Guideline Value for Mumurthy Avenue Second Main Road

Mumurthy Avenue Second Main Road guideline value

The current guideline value of Mumurthy Avenue Second Main Road is Rs 1,430 per sq.ft, effective from 1 July 2024. This street 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 Second Main Road has changed

The guideline value for Mumurthy Avenue Second Main Road has seen several revisions over the years. In 2012, the value was Rs 1,300 per sq.ft, which then decreased to Rs 871 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,300 per sq.ft. The most recent revision in 2024 set the value at Rs 1,430 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value. The values range from Rs 440 to Rs 4,300 per sq.ft, with a median of Rs 1,100 per sq.ft. The guideline value for Mumurthy Avenue Second Main Road is above this median.

• Mumurthy Avenue First Main Road: Rs 1,430 per sq.ft (2024)
• Mumurthy Avenue: Rs 1,650 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 Second Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,430 per sq.ft, the guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, totaling 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.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Mumurthy Avenue Second Main Road?

The Mumurthy Avenue Second Main Road is covered by 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

The guideline value plays a crucial role in property transactions in Kaspapuram. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers need to be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is considered to assess the transaction's worth, ensuring that the government receives the appropriate taxes. It is essential for both parties to understand how this value affects their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Mumurthy Avenue Second 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 2012 to Rs 871 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,430 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Mumurthy Avenue Second Main Road is Residential Special Type - II.

Where can I find the registration office for this area?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,430 per sq.ft has a guideline value of Rs 14,30,000, leading to a total stamp duty and registration fee of Rs 1,28,700.