Guideline Value for Mumurthy Avenue First Main Road

Mumurthy Avenue First Main Road guideline value

The current guideline value of Mumurthy Avenue First Main Road is Rs 1,430 per sq.ft. This road is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Mumurthy Avenue First Main Road has changed

The guideline value for Mumurthy Avenue First Main Road has seen several revisions over the years. The earliest recorded revision for this street was in 2012, with a value of Rs 1,300 per sq.ft. This value remained unchanged in the next revision in 2017, where it was recorded at Rs 871 per sq.ft, reflecting a decrease of 33%. In 2023, the guideline value increased to Rs 1,300 per sq.ft, and in the latest revision for 2024, it has risen to Rs 1,430 per sq.ft, marking a 10% increase from the previous year.

In total, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

In Kaspapuram, there are 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, which means that the guideline value of Mumurthy Avenue First Main Road is above this median.

• Mumurthy Avenue: Rs 1,650 per sq.ft (2024)
• Mumurthy Avenue Second Main Road: Rs 1,430 per sq.ft (2024)
• M.M. Nagar Phase -3: Rs 1,650 per sq.ft (2024)
• Nehru Street: Rs 550 per sq.ft (2024)
• Mayana Salai: Rs 440 per sq.ft (2024)
• Mav Mummurthi Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mumurthy Avenue First Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value would be Rs 14,30,000. The stamp duty at 7% would amount to Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mumurthy Avenue First Main Road?

The Sub Registrar Office that covers Mumurthy Avenue First Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kaspapuram

When buying or selling property in Kaspapuram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is assessed by the authorities and is often used as a benchmark for property transactions in the area.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property registration. This value influences the overall costs associated with the transaction, including stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Mumurthy Avenue First Main Road?

The current guideline value of Mumurthy Avenue First Main Road is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2023 to Rs 1,430 per sq.ft in 2024, marking a 10% increase. It was recorded at Rs 871 per sq.ft in 2017 and Rs 1,300 per sq.ft in 2012.

What is the land classification for Mumurthy Avenue First Main Road?

The land classification for Mumurthy Avenue First Main Road is Residential Special Type - II, indicating its intended use for residential purposes.

What are the stamp duty rates applicable in Kaspapuram?

The stamp duty for property transactions in Kaspapuram is charged at 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Mumurthy Avenue First Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.