Guideline Value for MURUGATHAMMAN KOIL 3RD LANE STREET

Murugathamman Koil 3rd Lane Street guideline value

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

The guideline value for Murugathamman Koil 3rd Lane Street has seen significant changes over the years. In 2002, the guideline value was Rs 38 per sq.ft, which increased to Rs 43 per sq.ft in 2003. The value then rose dramatically to Rs 400 per sq.ft in 2007, followed by a substantial increase to Rs 1,800 per sq.ft in 2012. However, it dropped to Rs 1,206 per sq.ft in 2017. The value then increased to Rs 1,800 per sq.ft in 2023 before reaching the current value of Rs 1,980 per sq.ft in 2024.

Between the revisions, the changes are noteworthy. From 2002 to 2024, there has been an overall increase of 5,111%. The jump from 2017 to 2023 was +49%, while the value decreased by -33% from 2012 to 2017. The most significant increase occurred from 2007 to 2012, which saw a rise of +350%, and from 2003 to 2007, there was an increase of +830%.

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 the village is Rs 2,530 per sq.ft, making the current value of Murugathamman Koil 3rd Lane Street below this median.

• Murugathamman Koil 3rd Lane Cross Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Lane Cross 2nd Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 2nd 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 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, resulting in a total of Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Murugathamman Koil 3rd Lane 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 serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction reflects the official valuation, protecting both the buyer and seller during the registration process.

Frequently asked questions

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

The current guideline value of Murugathamman Koil 3rd Lane 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 significantly, increasing from Rs 38 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 5,111%.

What is the land classification for Murugathamman Koil 3rd Lane Street?

The land classification for Murugathamman Koil 3rd Lane Street is Residential Class IV Type - II.

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

The Sub Registrar Office for Murugathamman Koil 3rd Lane Street is 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 is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at 7%.