Guideline Value for Murthy Street Extension

Murthy Street Extension guideline value

The current guideline value of Murthy Street Extension is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class II Type - II.

How the guideline value of Murthy Street Extension has changed

The guideline value for Murthy Street Extension has seen significant changes over the years. In the 2007 revision, the value was set at Rs 1,460 per sq.ft. This increased dramatically to Rs 6,000 per sq.ft in the 2012 revision, marking a 311% rise. The most recent revision in 2024 saw the guideline value rise to Rs 6,600 per sq.ft, an increase of 10% from the previous figure.

It is important to note that there are no figures available for the years 2003, 2002, 2017, and 2023 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 352%.

Guideline values in Kodambakkam

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

• Murthy Street: Rs 6,600 per sq.ft (2024)
• Murasolimaran Street: Rs 3,300 per sq.ft (2024)
• Murugan Store RoadS.No. 349/1 Part: Rs 2,200 per sq.ft (2024)
• Murugan Street(Kodambakkam Salai): Rs 5,500 per sq.ft (2024)
• Munusamy Street Block 94: Rs 3,300 per sq.ft (2024)
• Munusamy Street Block 79: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murthy Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Murthy Street Extension?

The Sub Registrar Office that covers Murthy Street Extension is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It determines the stamp duty and registration fees that must be paid, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Murthy Street Extension?

The current guideline value of Murthy Street Extension is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,460 per sq.ft to Rs 6,600 per sq.ft in 2024, marking an overall increase of 352%.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Which Sub Registrar Office services Murthy Street Extension?

The Ashok Nagar Sub Registrar Office services Murthy Street Extension, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Murthy Street Extension?

Murthy Street Extension is classified as Residential Class II Type - II, indicating its suitability for residential development.