Guideline Value for MURUGATHAMMAN KOIL 2ND MAIN STREET

Murugathamman Koil 2nd Main Street guideline value

The current guideline value of Murugathamman Koil 2nd Main 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 2nd Main Street has changed

The guideline value for Murugathamman Koil 2nd Main Street has seen several revisions over the years. The earliest recorded value was Rs 99 per sq.ft in 2002, which increased to Rs 111 per sq.ft in 2003, marking a 12% rise. The value then surged to Rs 400 per sq.ft in 2007, a significant increase of 260%. Following this, the value dropped to Rs 1,800 per sq.ft in 2012, a decrease of 33%, before rising again to Rs 1,206 per sq.ft in 2017, which was a 49% increase. The value stood at Rs 1,800 per sq.ft in 2023, before reaching the current rate of Rs 1,980 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in the years not mentioned. Overall, from 2002 to 2024, the guideline value has increased by 1900%.

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 means that the 2024 figure for Murugathamman Koil 2nd Main Street is below this median.

• Murugathamman Koil 1st 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 2nd Main 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, making the total fees together 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 on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugathamman Koil 2nd Main Street?

The Sub Registrar Office that covers Murugathamman Koil 2nd Main 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. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Manapakkam. When a property is sold, the buyer and seller must register the sale at the Sub Registrar Office, where the guideline value is considered for calculating the applicable stamp duty and registration fees.

It is essential for both buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. The registration process will require documentation that reflects this value, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Murugathamman Koil 2nd Main Street?

The current guideline value of Murugathamman Koil 2nd Main 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 99 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing a significant increase over the years.

What is the median guideline value in Manapakkam?

The median guideline value for streets in Manapakkam is Rs 2,530 per sq.ft, which is higher than the current guideline value of Murugathamman Koil 2nd Main Street.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles property registrations for Murugathamman Koil 2nd Main Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Murugathamman Koil 2nd Main Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.