Guideline Value for Murasolimaran Street

Murasolimaran Street guideline value

The current guideline value of Murasolimaran Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO and falls under the Residential Class IV Type - II land classification.

How the guideline value of Murasolimaran Street has changed

The guideline value for Murasolimaran Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 800 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. The most recent revision in 2024 has brought the guideline value up to Rs 3,300 per sq.ft, marking an increase of 64% from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. It is important to note that there are no figures available for the years 2002, 2003, and 2023 for Murasolimaran Street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Murasolimaran Street's 2024 figure below this median.

• Munusamy Street Block 94: Rs 3,300 per sq.ft (2024)
• Munusamy Street Block 79: Rs 3,300 per sq.ft (2024)
• Murthy Street: Rs 6,600 per sq.ft (2024)
• Murthy Street Extension: Rs 6,600 per sq.ft (2024)
• Murugan Store RoadS.No. 349/1 Part: Rs 2,200 per sq.ft (2024)
• Munusamy Maistry StreetBharathi Block: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murasolimaran Street

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 cost 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.

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

Which Sub Registrar Office covers Murasolimaran Street?

The Sub Registrar Office that covers Murasolimaran Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the Registration Department.

When a property is sold, the guideline value helps determine the minimum value on which stamp duty is calculated. Buyers and sellers must be aware that the higher of the guideline value or the sale price will be used for calculating these fees.

Frequently asked questions

What is the current guideline value of Murasolimaran Street?

The current guideline value of Murasolimaran Street 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various revisions in between showing fluctuations in value.

What is the land classification of Murasolimaran Street?

Murasolimaran Street falls under the Residential Class IV Type - II land classification.

Where can I find the Sub Registrar Office for Murasolimaran Street?

The Sub Registrar Office for Murasolimaran Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Murasolimaran Street?

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