Guideline Value for Murugan Avenue

Murugan Avenue guideline value

The current guideline value of Murugan Avenue, located in Thalimangalam village under the Chengleput Joint II SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Murugan Avenue has changed

The guideline value for Murugan Avenue has seen several revisions over the years. In 2007, the value was Rs 210 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 500 per sq.ft, indicating no change between these two years. Overall, from 2007 to 2024, the guideline value has increased by 138%.

In summary, from 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The 2024 revision reflects a stable rate compared to 2023, showing no percentage change.

Guideline values in Thalimangalam

In Thalimangalam, there are nine streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 500 per sq.ft, with a median value of Rs 400 per sq.ft. Murugan Avenue's 2024 guideline value is above this median.

• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Jsn Enclave: Rs 400 per sq.ft (2024)
• Sabari Garden: Rs 400 per sq.ft (2024)
• Sri Valli Nagar: Rs 500 per sq.ft (2024)
• Bharathi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000. Thus, the total cost for stamp duty and registration fees would be Rs 45,000. It is important to note that 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 Murugan Avenue?

The Sub Registrar Office that covers Murugan Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Thalimangalam. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value serves as a benchmark for calculating the costs associated with registration. It is essential to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Murugan Avenue?

The current guideline value of Murugan Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing no change from 2023 to 2024. The overall increase from 2007 to 2024 is 138%.

What is the land classification for Murugan Avenue?

The land classification for Murugan Avenue is Residential Special Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Murugan Avenue?

The Sub Registrar Office for Murugan Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Murugan Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at a rate of 7%.