Guideline Value for MURUGATHAMMAN KOIL 3RD LANE CROSS STREET

Murugathamman Koil 3rd Lane Cross Street guideline value

The current guideline value for Murugathamman Koil 3rd Lane Cross 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 Street has changed

The guideline value for Murugathamman Koil 3rd Lane Cross Street has undergone several revisions over the years. Starting from Rs 38 per sq.ft in 2002, it increased to Rs 43 per sq.ft in 2003. The value saw a significant rise to Rs 400 per sq.ft in 2007, followed by a further increase to Rs 1,800 per sq.ft in 2012. However, it dropped to Rs 1,206 per sq.ft in 2017, before climbing back to Rs 1,800 per sq.ft in 2023. 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.

In terms of percentage changes, the value increased by 830% from 2002 to 2007, followed by a 350% rise from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. Overall, the guideline value has increased by 5,111% from 2002 to 2024.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing the guideline value for Murugathamman Koil 3rd Lane Cross Street below this median.

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

Stamp duty and registration fee for property in Murugathamman Koil 3rd Lane Cross 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, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees 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.

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

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

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

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

When buying or selling property in Manapakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is officially recorded at a fair value.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value for Murugathamman Koil 3rd Lane Cross 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 seen significant changes, starting from Rs 38 per sq.ft in 2002 and reaching Rs 1,980 per sq.ft in 2024. The value has increased overall by 5,111% from 2002 to 2024.

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

Other streets in Manapakkam with the same 2024 guideline value of Rs 1,980 per sq.ft include Murugathamman Koil 3rd Lane Cross 2nd Street, Murugathamman Koil 3rd Lane Street, Murugathamman Koil 3rd Street, Murugathamman Koil 2nd Street, Murugathamman Koil Street, and Murugathamman Koil 2nd Main Street.

What is the registration office for Murugathamman Koil 3rd Lane Cross Street?

The registration office for Murugathamman Koil 3rd Lane Cross 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.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in this area 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 would be calculated at 7% of this amount.