Guideline Value for Murrari Avenue

Murrari Avenue guideline value

The current guideline value of Murrari Avenue is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Mixed Type - I land.

How the guideline value of Murrari Avenue has changed

The guideline value for Murrari Avenue has seen significant changes over the years. In the 2007 revision, the value was set at Rs 4,000 per sq.ft, which increased to Rs 12,300 per sq.ft in 2012. However, there was a decrease to Rs 8,241 per sq.ft in the 2017 revision. The value then rose sharply to Rs 12,300 per sq.ft in 2023, and currently stands at Rs 13,400 per sq.ft as per the 2024 revision.

Notably, the changes between the revisions indicate a +208% increase from 2007 to 2012, followed by a -33% decrease from 2012 to 2017. The value surged by +49% from 2017 to 2023, and then increased by +9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by +235%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Murrari Avenue's 2024 figure above this median.

• Murthy Nagar: Rs 6,300 per sq.ft (2024)
• Munusamy Lane: Rs 4,900 per sq.ft (2024)
• Muniya Pillai Street: Rs 7,100 per sq.ft (2024)
• Murugesan Naicken Street: Rs 3,900 per sq.ft (2024)
• Murugesan street: Rs 3,900 per sq.ft (2024)
• Muktha Garden: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Murrari Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value amounts to Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, leading to a total of Rs 12,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Murrari Avenue?

The Sub Registrar Office that covers Murrari Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration authorities use the guideline value to calculate the applicable charges. Buyers should be aware that the duty is levied on either the guideline value or the sale price, whichever is higher, ensuring that the registration process is transparent and standardized.

Frequently asked questions

What is the current guideline value of Murrari Avenue?

The current guideline value of Murrari Avenue is Rs 13,400 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 4,000 per sq.ft in 2007 to Rs 13,400 per sq.ft in 2024, marking an overall increase of +235% over the years.

What are the stamp duty rates for properties in Murrari Avenue?

The stamp duty for properties in Murrari Avenue is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Murrari Avenue located?

The Sub Registrar Office for Murrari Avenue is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value for streets in Egmore?

The median guideline value for streets in Egmore under the Periamet SRO is Rs 7,100 per sq.ft, with Murrari Avenue's current value being above this median.