Guideline Value for Murugan Koil 1st Cross Street (Iyappan nagar)

Murugan Koil 1st Cross Street (Iyappan nagar) guideline value

The current guideline value of Murugan Koil 1st Cross Street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO and is classified as Residential Special Type - II.

How the guideline value of Murugan Koil 1st Cross Street (Iyappan nagar) has changed

The guideline value for Murugan Koil 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012. However, it then decreased to Rs 1,072 per sq.ft in 2017. The subsequent revision in 2023 set the value at Rs 1,600 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,700 per sq.ft.

Between these revisions, the changes were significant. From 2007 to 2012, there was a 100% increase, but from 2012 to 2017, the value dropped by 33%. The value rose by 49% from 2017 to 2023, and from 2023 to 2024, it increased by 6%. Overall, from 2007 to 2024, the guideline value has increased by 113%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

Ayappakkam village has a total of 221 streets under the Ambattur SRO with a guideline value range from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, placing Murugan Koil 1st Cross Street above this median.

• Murugan Koil 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Mullai Street (Iyappan nagar extn.): Rs 1,700 per sq.ft (2024)
• Mullai street: Rs 1,700 per sq.ft (2024)
• Mullai Nagar: Rs 1,100 per sq.ft (2024)
• M.S.Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Koil 1st Cross Street (Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Murugan Koil 1st Cross Street (Iyappan nagar)?

The Sub Registrar Office that covers Murugan Koil 1st Cross Street (Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial figure used during property transactions in Ayappakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for both buyers and sellers to understand this value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Murugan Koil 1st Cross Street (Iyappan nagar)?

The current guideline value of Murugan Koil 1st Cross Street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 113% over this period.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 1,53,000 in fees based on the current guideline value.

Which office handles property registrations for this street?

The Ambattur Sub Registrar Office handles property registrations for Murugan Koil 1st Cross Street (Iyappan nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the land classification for Murugan Koil 1st Cross Street?

Murugan Koil 1st Cross Street is classified as Residential Special Type - II, which influences its guideline value and usage regulations.