Guideline Value for Murugambedu Main Road

Murugambedu Main Road guideline value

The current guideline value of Murugambedu Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Soorapattu village, under the Ambattur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Murugambedu Main Road has changed

The guideline value for Murugambedu Main Road has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. This represented a decrease of 33%. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, marking an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Murugambedu Main Road is above this median.

• Nagathamman Koil Street: Rs 1,200 per sq.ft (2024)
• Nagathamman Koil Street Survey No.114/2A,2B,2C: Rs 4,478 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 per sq.ft (2024)
• Mettur - 6th Street: Rs 1,200 per sq.ft (2024)
• Mettur - 5th Street: Rs 1,200 per sq.ft (2024)
• Mettur - 4th Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugambedu Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Murugambedu Main Road?

The Murugambedu Main Road falls under the jurisdiction of the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Soorapattu, as it determines the minimum value at which properties 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 an official valuation.

Additionally, the guideline value helps in maintaining transparency in property transactions, providing a standardized benchmark for buyers and sellers. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Murugambedu Main Road?

The current guideline value of Murugambedu Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the other streets in Soorapattu with their guideline values?

Other streets in Soorapattu include Nagathamman Koil Street at Rs 1,200 per sq.ft, M.G.R. Street at Rs 1,100 per sq.ft, and several Mettur streets all at Rs 1,200 per sq.ft, among others.

What is the stamp duty rate for properties in Murugambedu Main Road?

The stamp duty rate for properties in Murugambedu Main Road is 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Murugambedu Main Road?

The registration for Murugambedu Main Road is handled by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.