Guideline Value for Muralikrishna Nagar

Muralikrishna Nagar guideline value

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

How the guideline value of Muralikrishna Nagar has changed

The guideline value for Muralikrishna Nagar has seen several revisions over the years. Starting with Rs 218 per sq.ft in 2002, it increased to Rs 237 per sq.ft in 2003, marking a 9% increase. By 2007, the value surged to Rs 400 per sq.ft, reflecting a 69% rise. The 2012 revision saw a significant jump to Rs 3,500 per sq.ft, which was a remarkable 775% increase. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33% from the previous revision. The latest revision in 2024 brings it back up to Rs 3,850 per sq.ft, a 64% increase from 2017.

It is worth noting that there is no figure recorded for Muralikrishna Nagar in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 1666%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is equal to the 2024 figure for Muralikrishna Nagar.

• Muralikrishna Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Muralikrishna Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Muralikrishna Nagar Madurai Veeran Koil Street: Rs 3,850 per sq.ft (2024)
• Muralikrishna Nagar Main Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to 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?

The Sub Registrar Office covering Muralikrishna Nagar 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 in the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable fees. Buyers should ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muralikrishna Nagar?

The current guideline value of Muralikrishna Nagar 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 significantly from Rs 218 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 1666%.

What is the land classification for Muralikrishna Nagar?

The land classification for Muralikrishna Nagar is Residential Class II Type - I.

What are the stamp duty and registration fees for property in Muralikrishna Nagar?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Muralikrishna Nagar?

The Virugambakkam Sub Registrar Office handles registrations for Muralikrishna Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.