Guideline Value for Murthy Lane / Hindustan Lever Colony

Murthy Lane / Hindustan Lever Colony guideline value

The current guideline value of Murthy Lane / Hindustan Lever Colony is Rs 2,530 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 I Type - I.

How the guideline value of Murthy Lane / Hindustan Lever Colony has changed

The guideline value for Murthy Lane / Hindustan Lever Colony has seen significant changes over the years. In 2002, the guideline value was Rs 163 per sq.ft. This increased to Rs 185 per sq.ft in 2003, marking a change of +13%. The value continued to rise, reaching Rs 260 per sq.ft in 2007, which was a +41% increase from the previous revision. However, there is no figure available for this street in the revisions for 2012 and 2017.

From 2007 to 2023, the guideline value surged to Rs 2,300 per sq.ft, reflecting a remarkable increase of +785%. The most recent revision, effective from 1 July 2024, has set the guideline value at Rs 2,530 per sq.ft, showing a +10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by +1452%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Murthy Lane / Hindustan Lever Colony above this median.

• Murdasa Street / Lord Srinivasa Colony: Rs 1,760 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 Murthy Lane / Hindustan Lever Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600, bringing the total fees together to Rs 2,27,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murthy Lane / Hindustan Lever Colony?

The Sub Registrar Office that covers Murthy Lane / Hindustan Lever 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 plays a crucial role in the registration process of property transactions in Pammal. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and is subject to periodic revisions based on various factors.

When registering a property, buyers must ensure that the transaction reflects the current guideline value to avoid any discrepancies. The fees calculated based on the guideline value ensure that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Murthy Lane / Hindustan Lever Colony?

The current guideline value of Murthy Lane / Hindustan Lever Colony is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 163 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, marking an overall increase of +1452%.

What are the registration fees for property in Murthy Lane / Hindustan Lever Colony?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Pammal?

The Pammal Sub Registrar Office handles property registrations in Pammal, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value of streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Murthy Lane / Hindustan Lever Colony's 2024 figure being above this median.