Guideline Value for MURUGATHAMMAN KOIL 1ST STREET

Murugathamman Koil 1st Street guideline value

The current guideline value of Murugathamman Koil 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Murugathamman Koil 1st Street has changed

The guideline value for Murugathamman Koil 1st Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in 2017, reflecting a decline of 33%. The value then increased significantly to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,980 per sq.ft in 2024, which is a rise of 10% from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which indicates that the guideline value of Murugathamman Koil 1st Street is below the median.

• Murugathamman Koil 2nd Main Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 2nd Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Lane Cross 2nd Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Lane Cross Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Lane Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Murugathamman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugathamman Koil 1st Street?

The Sub Registrar Office that covers Murugathamman Koil 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Manapakkam. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

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

Frequently asked questions

What is the current guideline value of Murugathamman Koil 1st Street?

The current guideline value of Murugathamman Koil 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Murugathamman Koil 1st Street?

The land classification for Murugathamman Koil 1st Street is Residential Class IV Type - II.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Murugathamman Koil 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

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 fees can be calculated accordingly.