Guideline Value for MURUGESAPURAM 1 TO 4 STREETS

Murugesapuram 1 To 4 Streets guideline value

The current guideline value for Murugesapuram 1 To 4 Streets in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Murugesapuram 1 To 4 Streets has changed

The guideline value for Murugesapuram 1 To 4 Streets has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 3,000 per sq.ft in the 2023 revision, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, reflecting an overall increase of 10% from the 2012 revision.

From 2017 to 2023, the guideline value increased by 49%. The changes from the 2023 to 2024 revision represent a 10% increase. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value for Murugesapuram 1 To 4 Streets.

• Murugesapuram: Rs 3,300 per sq.ft (2024)
• Muthalamman Koil Street: Rs 2,100 per sq.ft (2024)
• Murugavel Nagar: Rs 2,100 per sq.ft (2024)
• Murugan Koil Street: Rs 2,100 per sq.ft (2024)
• Munusamy Street: Rs 3,520 per sq.ft (2024)
• Municipal Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesapuram 1 To 4 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugesapuram 1 To 4 Streets?

The Sub Registrar Office that covers Murugesapuram 1 To 4 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it influences the overall transaction costs. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value for Murugesapuram 1 To 4 Streets?

The current guideline value for Murugesapuram 1 To 4 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Murugesapuram 1 To 4 Streets?

The land classification for Murugesapuram 1 To 4 Streets is Residential Class I Type - II.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Murugesapuram 1 To 4 Streets?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.