Guideline Value for MURUGAN STREET

Murugan Street guideline value

The current guideline value of Murugan Street in Vengathur village is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Residential Class II Type - I.

How the guideline value of Murugan Street has changed

The guideline value for Murugan Street has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 600% rise. However, it then dropped to Rs 469 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 700 per sq.ft during the 2023 revision and has not changed in the 2024 revision, maintaining the same rate.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 600%, with the most recent figures reflecting stability at Rs 700 per sq.ft since 2023.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Murugan Street's 2024 figure below this median.

• Murugesa Reddy Street: Rs 1,000 per sq.ft (2024)
• Mullai Street: Rs 700 per sq.ft (2024)
• Mu.Varadharasanar Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar: Rs 600 per sq.ft (2024)
• Navalar Street: Rs 1,300 per sq.ft (2024)
• Mettur Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugan Street?

The Sub Registrar Office that covers Murugan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Vengathur, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value ensures that the transaction is recorded at a standardized rate, which helps in maintaining transparency in the market.

Additionally, the guideline value serves as a reference point for property assessments, ensuring that all transactions are in line with the established rates set by the Registration Department. This helps both buyers and sellers understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Murugan Street?

The current guideline value of Murugan Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 100 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then dropping to Rs 469 per sq.ft in 2017, and remaining at Rs 700 per sq.ft in 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, which is above the current value of Murugan Street.

What are the stamp duty and registration fees for property in Murugan Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles registrations for Murugan Street?

The registrations for Murugan Street are handled by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.