Guideline Value for MURUGAPPA NAGAR (Thiruvalluvar Street)

MURUGAPPA NAGAR (Thiruvalluvar Street) guideline value

The current guideline value of MURUGAPPA NAGAR (Thiruvalluvar Street) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Ernavur village under the Thiruvottiyur SRO, classified as Residential Special Type - II.

How the guideline value of MURUGAPPA NAGAR (Thiruvalluvar Street) has changed

The guideline value for MURUGAPPA NAGAR (Thiruvalluvar Street) has seen several revisions over the years. In 2007, the guideline value was Rs 350 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012. However, it then decreased to Rs 1,139 per sq.ft in 2017. The value rose to Rs 1,700 per sq.ft again in 2023, and most recently, it has reached Rs 1,800 per sq.ft in the 2024 revision, marking a 6% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 414%. The changes between the revisions indicate a fluctuating trend, with the most significant increase occurring between 2007 and 2012 at 386%, followed by a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for MURUGAPPA NAGAR (Thiruvalluvar Street) is above this median.

• MURUGAPPA NAGAR (V.O.C. Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Parivallal Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Nethaji Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Kambar Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Ganthi Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Elango Street): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in MURUGAPPA NAGAR (Thiruvalluvar Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total fees to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MURUGAPPA NAGAR (Thiruvalluvar Street)?

The MURUGAPPA NAGAR (Thiruvalluvar Street) falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value serves as a benchmark for property transactions in Ernavur. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

At the time of registration, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the stamp duty, which is a mandatory fee for property registration. This process helps maintain a standardized approach to property transactions in the region.

Frequently asked questions

What is the current guideline value of MURUGAPPA NAGAR (Thiruvalluvar Street)?

The current guideline value of MURUGAPPA NAGAR (Thiruvalluvar Street) is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, reflecting an overall increase of 414% over this period.

What is the stamp duty for property in MURUGAPPA NAGAR (Thiruvalluvar Street)?

The stamp duty for property in MURUGAPPA NAGAR (Thiruvalluvar Street) is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for MURUGAPPA NAGAR (Thiruvalluvar Street)?

MURUGAPPA NAGAR (Thiruvalluvar Street) is classified as Residential Special Type - II according to the current guidelines.