Guideline Value for Murugan Koil Street (Iyappan nagar)

Murugan Koil Street (Iyappan nagar) guideline value

The current guideline value of Murugan Koil 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 Street (Iyappan nagar) has changed

The guideline value for Murugan Koil Street has seen several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012, representing a 100% increase. However, it then decreased to Rs 1,072 per sq.ft in 2017, a decline of 33%. The value rose significantly to Rs 1,600 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,700 per sq.ft, marking a 6% increase from the previous year. The register has no figures for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 113%. The jump from Rs 1,072 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024 indicates a substantial growth of 49% over this period.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Murugan Koil Street's 2024 value above this median.

• Murugan Koil 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil 1st Cross 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 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 amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Murugan Koil 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 information.

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

The guideline value plays a crucial role in the registration of property transactions. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the public records.

When buying or selling property in Ayappakkam, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions, based on the established guideline values.

Frequently asked questions

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

The current guideline value of Murugan Koil 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 significantly from Rs 800 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, showing an overall increase of 113% over this period.

What is the median guideline value in Ayappakkam?

The median guideline value for streets in Ayappakkam is Rs 1,300 per sq.ft, with Murugan Koil Street's value above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is typically charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Murugan Koil Street?

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