Guideline Value for Muralikrishna Nagar Madurai Veeran Koil Street

Muralikrishna Nagar Madurai Veeran Koil Street guideline value

The current guideline value of Muralikrishna Nagar Madurai Veeran Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Muralikrishna Nagar Madurai Veeran Koil Street has changed

The guideline value for Muralikrishna Nagar Madurai Veeran Koil Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2024, the value increased significantly by 64%, bringing it to Rs 3,850 per sq.ft.

Overall, comparing the values from 2012 to 2024, there has been a modest increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the current value for Muralikrishna Nagar Madurai Veeran Koil Street.

• Muralikrishna Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Muralikrishna Nagar Main Street: Rs 3,850 per sq.ft (2024)
• Muralikrishna Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Muralikrishna Nagar: Rs 3,850 per sq.ft (2024)
• Muthumari Amman Koil Street (Janaki Nagar Extn): Rs 4,950 per sq.ft (2024)
• Muthumariamman Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Muralikrishna Nagar Madurai Veeran Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty, charged at 7%, amounts to Rs 2,69,500, while the registration fee at 2% is Rs 77,000. Together, these fees total Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muralikrishna Nagar Madurai Veeran Koil Street?

The Sub Registrar Office that covers Muralikrishna Nagar Madurai Veeran Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. 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 guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Muralikrishna Nagar Madurai Veeran Koil Street?

The current guideline value of Muralikrishna Nagar Madurai Veeran Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification for this street?

The land classification for Muralikrishna Nagar Madurai Veeran Koil Street is Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500 and the registration fee is Rs 77,000, totaling Rs 3,46,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Muralikrishna Nagar Madurai Veeran Koil Street.