Guideline Value for MURUGESA STREET

Murugesa Street guideline value

The current guideline value of Murugesa Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Murugesa Street has changed

In the 2007 revision, the guideline value was Rs 1,650 per sq.ft. This figure saw a significant increase in the 2012 revision, which remained at Rs 5,300 per sq.ft, marking a change of +221% from the previous revision. The 2023 revision also recorded Rs 5,300 per sq.ft, indicating no change from 2012. However, in the 2024 revision, the guideline value increased to Rs 5,800 per sq.ft, reflecting a change of +9% from the previous year.

It is noteworthy that the register has no figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by +252%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with a 2024 guideline value range from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which is equal to the guideline value of Murugesa Street.

• Murugesa Colony: Rs 5,800 per sq.ft (2024)
• Murugappa Nagar: Rs 4,400 per sq.ft (2024)
• Mullai Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 1 St Cross Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 1 St Street: Rs 3,800 per sq.ft (2024)
• Muthu Irulandi Colony 2 Nd Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesa Street

For a 1,000 sq.ft plot at the current rate of Rs 5,800 per sq.ft, the guideline value amounts to Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Murugesa Street?

The Sub Registrar Office that covers Murugesa Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Puliyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value for which the property can be registered. This value is essential for both buyers and sellers to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Murugesa Street?

The current guideline value of Murugesa Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,650 per sq.ft in 2007, increasing to Rs 5,300 per sq.ft in 2012, and remaining the same until 2023. In 2024, it rose to Rs 5,800 per sq.ft.

What is the land classification for Murugesa Street?

Murugesa Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Murugesa Street?

The Sub Registrar Office for Murugesa Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for property in Murugesa Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000, leading to a stamp duty of Rs 4,06,000.