Guideline Value for MURUGATHAMMAN KOIL 2ND STREET

Murugathamman Koil 2nd Street guideline value

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

The guideline value for Murugathamman Koil 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the guideline value to Rs 1,800 per sq.ft, and the most recent 2024 revision has set it at Rs 1,980 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value 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, placing Murugathamman Koil 2nd Street's current value below this median.

• Murugathamman Koil 2nd Main Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 1st 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 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, resulting in a total of Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugathamman Koil 2nd Street?

The Sub Registrar Office that covers Murugathamman Koil 2nd 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 plays a crucial role in the registration process when buying or selling property in Manapakkam. 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 compared with the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Murugathamman Koil 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has fluctuated, with the 2012 revision at Rs 1,800 per sq.ft, dropping to Rs 1,206 per sq.ft in 2017, and then increasing to Rs 1,800 per sq.ft in 2023. The latest revision in 2024 has set it at Rs 1,980 per sq.ft.

What are the other streets in Manapakkam with the same guideline value?

Other streets in Manapakkam with the same guideline value of Rs 1,980 per sq.ft for 2024 include Murugathamman Koil 2nd Main Street, Murugathamman Koil 1st Street, and several others. These streets are all under the Chennai South Joint I SRO.

How is stamp duty calculated for properties in Murugathamman Koil 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,80,000, the stamp duty at 7% would amount to Rs 1,38,600.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting 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. More details can be found through the provided link.