Guideline Value for Murdasa Street / Lord Srinivasa Colony

Murdasa Street / Lord Srinivasa Colony guideline value

The current guideline value of Murdasa Street / Lord Srinivasa Colony is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Murdasa Street / Lord Srinivasa Colony has changed

The guideline value for Murdasa Street / Lord Srinivasa Colony has seen significant changes over the years. The earliest recorded revision in 2002 set the value at Rs 148 per sq.ft. This increased to Rs 168 per sq.ft in 2003, marking a 14% rise. By 2007, the value reached Rs 260 per sq.ft, a 55% increase from the previous revision. However, there are no figures available for the revisions in 2012 and 2017.

In 2023, the guideline value was revised to Rs 1,600 per sq.ft, representing a substantial 515% increase from the 2007 figure. The most recent revision in 2024 raised the value to Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,089%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Murdasa Street / Lord Srinivasa Colony below this median.

• Murthy Lane / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Munuswamy Street /Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Munuswamy Street / Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)
• Munuswamy Street (Cho) / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Munuswamy Mestri Street: Rs 1,760 per sq.ft (2024)
• Munuadhi Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Murdasa Street / Lord Srinivasa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Murdasa Street / Lord Srinivasa Colony?

The Sub Registrar Office that covers Murdasa Street / Lord Srinivasa Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value is a crucial factor in property transactions in Pammal, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is important for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall cost of the transaction. Proper understanding of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value for Murdasa Street / Lord Srinivasa Colony?

The current guideline value for Murdasa Street / Lord Srinivasa Colony is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an overall increase of 1,089% from Rs 148 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations for Murdasa Street / Lord Srinivasa Colony?

The Pammal Sub Registrar Office handles property registrations for Murdasa Street / Lord Srinivasa Colony, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the classification of Murdasa Street / Lord Srinivasa Colony?

Murdasa Street / Lord Srinivasa Colony is classified as Residential Class III Type - II, according to the local land classification standards.