Guideline Value for Murthi Colony

Murthi Colony guideline value

The current guideline value of Murthi Colony, located in Anakaputhur village under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Murthi Colony has changed

The guideline value for Murthi Colony has seen significant changes over the years. The 2003 revision recorded a value of Rs 216 per sq.ft, which increased to Rs 300 per sq.ft in 2007. By 2017, the value rose dramatically to Rs 1,072 per sq.ft, marking a 257% increase from the 2007 figure. The subsequent revision in 2023 set the value at Rs 1,600 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has further increased the value to Rs 1,760 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 715%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value of Murthi Colony is below this median.

• Murugan Street: Rs 1,760 per sq.ft (2024)
• Mungil Lake (5th Street): Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar Dobigana Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar 2nd Cross Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar 1st Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Murthi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these charges to Rs 1,58,400. 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 Murthi Colony?

The Sub Registrar Office that covers Murthi 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 Anakaputhur

The guideline value is a crucial factor in property transactions in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Murthi Colony?

The current guideline value of Murthi Colony is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 216 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, reflecting a total increase of 715% over the years.

What is the land classification of Murthi Colony?

Murthi Colony is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated in Murthi Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at a rate of 7%.