Guideline Value for MURUGAN AVENUE PHASE V

Murugan Avenue Phase V guideline value

The current guideline value of Murugan Avenue Phase V is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Puthur village and falls under the Tambaram Joint 1 SRO, classified as Residential Special Type - V.

How the guideline value of Murugan Avenue Phase V has changed

The guideline value for Murugan Avenue Phase V has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2017 to 2023 revision, there was a notable increase of 49%. The increase from 2023 to 2024 is 10%. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the dip observed between 2012 and 2017.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is equal to the current value of Murugan Avenue Phase V.

• Murugan Avenue Phase IV: Rs 1,100 per sq.ft (2024)
• Murugan Enclave: Rs 1,650 per sq.ft (2024)
• Murugan Avenue Phase III: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase II: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase I: Rs 1,100 per sq.ft (2024)
• Murugan Nagar & J.P. Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Avenue Phase V

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugan Avenue Phase V?

The Sub Registrar Office that covers Murugan Avenue Phase V is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Puthur

The guideline value is a crucial factor in property transactions in Puthur. It determines the minimum value at which properties can be registered, ensuring transparency and fairness in the buying and selling process. Buyers and sellers should be aware of the guideline value to avoid discrepancies during registration.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This value is essential for both the buyer and seller, as it influences the overall cost of the transaction and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Murugan Avenue Phase V?

The current guideline value of Murugan Avenue Phase V is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification for Murugan Avenue Phase V?

Murugan Avenue Phase V is classified as Residential Special Type - V, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Murugan Avenue Phase V?

The Sub Registrar Office for Murugan Avenue Phase V is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Murugan Avenue Phase V?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.