Guideline Value for MURUGESAN STREET

Murugesan Street guideline value

The current guideline value of Murugesan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Murugesan Street has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,100 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, positioning Murugesan Street's 2024 figure below that median.

• Murthy Avenue: Rs 1,100 per sq.ft (2024)
• Muthamizh Nagar: Rs 4,400 per sq.ft (2024)
• MUTHAMIZH NAGAR 1st STREET: Rs 4,400 per sq.ft (2024)
• MUTHAMIZH NAGAR 2nd STREET: Rs 4,400 per sq.ft (2024)
• MUTHAMIZH NAGAR 3rd STREET: Rs 4,400 per sq.ft (2024)
• MUTHAMIZH NAGAR 4th STREET: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 precise calculations.

Which Sub Registrar Office covers Murugesan Street?

The Sub Registrar Office that covers Murugesan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karapakkam. 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 to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Murugesan Street?

The current guideline value of Murugesan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Murugesan Street?

Murugesan Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Murugesan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Murugesan Street?

The Neelankarai Sub Registrar Office handles registrations for Murugesan Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.