Guideline Value for MURUGAPPA NAGAR

Murugappa Nagar guideline value

The current guideline value of Murugappa Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Murugappa Nagar has changed

Over the years, the guideline value of Murugappa Nagar has seen significant changes. In 2002, the guideline value was Rs 750 per sq.ft. This figure increased to Rs 824 per sq.ft in 2003, representing a 10% rise. The value continued to climb, reaching Rs 1,200 per sq.ft in 2007, which was a 46% increase from the previous revision. Following this, the value surged to Rs 4,000 per sq.ft in 2012, marking a substantial increase of 233%. However, there was a decrease to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 487%. There are no figures available for the revisions in years other than those listed.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Murugappa Nagar's 2024 figure below this median.

• Murugesa Colony: Rs 5,800 per sq.ft (2024)
• Murugesa Street: Rs 5,800 per sq.ft (2024)
• Mullai Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 1 St Cross Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 1 St Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 2 Nd Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa Nagar

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugappa Nagar?

The Sub Registrar Office that covers Murugappa Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Murugappa Nagar?

The current guideline value of Murugappa Nagar is Rs 4,400 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 750 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 487% over the period.

What is the land classification of Murugappa Nagar?

Murugappa Nagar is classified as Residential Class IV Type - II, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Murugappa Nagar?

The Kodambakkam Sub Registrar Office, which covers Murugappa Nagar, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Murugappa Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fee can be calculated accordingly.