Guideline Value for MURUGAPPA NAGAR LANE

Murugappa Nagar Lane guideline value

The current guideline value of Murugappa Nagar Lane is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Tiruttani village under the Thiruttani SRO, classified as Residential Class V Type - I.

How the guideline value of Murugappa Nagar Lane has changed

The guideline value for Murugappa Nagar Lane has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 550 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that have a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft, with a median value of Rs 825 per sq.ft. Murugappa Nagar Lane's 2024 figure is below this median.

• Murugappa Nagar: Rs 988 per sq.ft (2024)
• Murugur: Rs 550 per sq.ft (2024)
• Muslim Street: Rs 825 per sq.ft (2024)
• M Subramaniam Street: Rs 825 per sq.ft (2024)
• Nagari Road: Rs 770 per sq.ft (2024)
• Nallakulam Street: Rs 1,099 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa Nagar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that 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 Lane?

The Sub Registrar Office that covers Murugappa Nagar Lane is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO here.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tiruttani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that they are based on a standardized value rather than the sale price alone. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Murugappa Nagar Lane?

The current guideline value of Murugappa Nagar Lane is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024, reflecting an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Tiruttani?

The median guideline value in Tiruttani is Rs 825 per sq.ft, with Murugappa Nagar Lane's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in Murugappa Nagar Lane?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registration for Murugappa Nagar Lane?

The Thiruttani Sub Registrar Office handles property registration for Murugappa Nagar Lane, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.