Guideline Value for MURUGATHAMMAN KOIL 3RD LANE CROSS 2ND STREET

Murugathamman Koil 3rd Lane Cross 2nd Street guideline value

The current guideline value of Murugathamman Koil 3rd Lane Cross 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 3rd Lane Cross 2nd Street has changed

The guideline value for Murugathamman Koil 3rd Lane Cross 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 38 per sq.ft. This increased significantly to Rs 43 per sq.ft in 2003, marking a 13% rise. The value then saw a substantial jump of 830% to Rs 400 per sq.ft in 2007. Following this, the value rose dramatically by 350% to Rs 1,800 per sq.ft in 2012. However, it experienced a decrease of 33% to Rs 1,206 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased significantly by 49% to Rs 1,800 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 5,111%.

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 in this area is Rs 2,530 per sq.ft, indicating that the guideline value for Murugathamman Koil 3rd Lane Cross 2nd Street is below the median.

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

Stamp duty and registration fee for property in Murugathamman Koil 3rd Lane Cross 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 would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Murugathamman Koil 3rd Lane Cross 2nd Street?

The Sub Registrar Office that covers Murugathamman Koil 3rd Lane Cross 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manapakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per the government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that both the state and the buyer are protected during the transaction.

Frequently asked questions

What is the current guideline value for Murugathamman Koil 3rd Lane Cross 2nd Street?

The current guideline value for Murugathamman Koil 3rd Lane Cross 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 38 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 5,111%.

What is the stamp duty rate for property in this area?

The stamp duty rate for property in Murugathamman Koil 3rd Lane Cross 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Murugathamman Koil 3rd Lane Cross 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.

What other streets have the same guideline value in Manapakkam?

Other streets in Manapakkam that share the same guideline value of Rs 1,980 per sq.ft as Murugathamman Koil 3rd Lane Cross 2nd Street include Murugathamman Koil 3rd Lane Cross Street, Murugathamman Koil 2nd Street, Murugathamman Koil 3rd Lane Street, Murugathamman Koil 2nd Main Street, Murugathamman Koil 3rd Street, and Murugathamman Koil 1st Street.