Guideline Value for MURUGESANAR STREET

Murugesanar Street guideline value

The current guideline value of Murugesanar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Murugesanar Street has changed

Over the years, the guideline value of Murugesanar Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft, marking a -33% change. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and further rose to Rs 2,200 per sq.ft in the 2024 revision, reflecting a +10% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of +49%. Overall, from 2012 to 2024, the guideline value has increased by +10%, indicating a gradual change in the valuation of this street.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Murugesanar Street.

• Mohammadhiar School Road Ward- 4: Rs 2,200 per sq.ft (2024)
• Natham Colony: Rs 1,100 per sq.ft (2024)
• Natham Mettu Street: Rs 1,320 per sq.ft (2024)
• Natham Nadu Street: Rs 1,320 per sq.ft (2024)
• Navalar Nedunjezijyan Street: Rs 2,200 per sq.ft (2024)
• Masuthi Malai Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total cost together Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugesanar Street?

The Sub Registrar Office that covers Murugesanar Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chengalpattu Natham. It is used to determine the stamp duty and registration fees that are payable when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. It helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Murugesanar Street?

The current guideline value of Murugesanar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Murugesanar Street?

The land classification for Murugesanar Street is Residential Special Type - III.

Where can I find the registration office for Murugesanar Street?

The registration office for Murugesanar Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Chengalpattu Natham?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.