Guideline Value for MURUGAN KOIL STREET (a) CHETTI STREET

MURUGAN KOIL STREET (a) CHETTI STREET guideline value

The current guideline value of MURUGAN KOIL STREET (a) CHETTI STREET is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village under the Madurandakam SRO, classified as Commercial Class I Type - I.

How the guideline value of MURUGAN KOIL STREET (a) CHETTI STREET has changed

The guideline value for MURUGAN KOIL STREET (a) CHETTI STREET has seen significant changes over the years. In the 2007 revision, the value was Rs 350 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a substantial rise of 186%. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, representing a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. MURUGAN KOIL STREET (a) CHETTI STREET's 2024 guideline value aligns with this median.

• Mocherry Northstreet: Rs 660 per sq.ft (2024)
• Mocherri West Street: Rs 660 per sq.ft (2024)
• Nallan Pillai Nagar: Rs 775 per sq.ft (2024)
• Mocherri South Street: Rs 660 per sq.ft (2024)
• Mocherri Middle Street: Rs 660 per sq.ft (2024)
• Mocherri East Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in MURUGAN KOIL STREET (a) CHETTI STREET

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, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MURUGAN KOIL STREET (a) CHETTI STREET?

The Sub Registrar Office that covers MURUGAN KOIL STREET (a) CHETTI STREET is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Mathuranthagam. It serves as a reference point for the government to assess the value of the property for taxation purposes.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of MURUGAN KOIL STREET (a) CHETTI STREET?

The current guideline value of MURUGAN KOIL STREET (a) CHETTI STREET is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 350 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, an overall increase of 214%.

What is the land classification of MURUGAN KOIL STREET (a) CHETTI STREET?

MURUGAN KOIL STREET (a) CHETTI STREET is classified as Commercial Class I Type - I.

Where can I find the registration office for this street?

The registration office for MURUGAN KOIL STREET (a) CHETTI STREET is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mathuranthagam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current stamp duty rate is 7%, along with a registration fee of 2%.