Guideline Value for Murugan Enclave

Murugan Enclave guideline value

The current guideline value for Murugan Enclave in Puthur village is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - III.

How the guideline value of Murugan Enclave has changed

The guideline value for Murugan Enclave has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. In 2023, the value saw a significant increase to Rs 1,500 per sq.ft, followed by another increase to Rs 1,650 per sq.ft in the 2024 revision.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Murugan Enclave's 2024 figure above this median.

• Murugan Avenue Phase I: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase II: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase III: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase IV: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase V: Rs 1,100 per sq.ft (2024)
• Murugan Nagar & J.P. Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Murugan Enclave?

The Sub Registrar Office that covers Murugan Enclave is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Puthur

The guideline value is a crucial factor in the registration process when buying or selling property in Puthur. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are recorded at a fair price.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value for Murugan Enclave?

The current guideline value for Murugan Enclave is Rs 1,650 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 notable increases from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the classification of land in Murugan Enclave?

The land classification for Murugan Enclave is Residential Special Type - III, which indicates its designated use for residential purposes.

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

The Sub Registrar Office for Murugan Enclave is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Puthur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at the rate of 7%.