Guideline Value for Murugan Street (5)

Murugan Street (5) guideline value

The current guideline value of Murugan Street (5) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Murugan Street (5) has changed

The guideline value for Murugan Street (5) has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, the increase is 64%. These changes reflect the updates in the guideline value register maintained by the Registration Department.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Murugan Street (5) below the median value.

• Murugan Street (4): Rs 1,100 per sq.ft (2024)
• Muthumariyamman Koil 3rd Street: Rs 1,100 per sq.ft (2024)
• Muthumariyamman Koil Street: Rs 1,100 per sq.ft (2024)
• Moovar Nagar: Rs 1,320 per sq.ft (2024)
• Moorthi Street: Rs 1,320 per sq.ft (2024)
• Moobika Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Street (5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugan Street (5)?

The Sub Registrar Office that covers Murugan Street (5) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pozhichalur

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Murugan Street (5)?

The current guideline value of Murugan Street (5) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Murugan Street (5)?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Pozhichalur?

The Pammal Sub Registrar Office covers Pozhichalur, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Murugan Street (5)?

The land classification for Murugan Street (5) is Residential Class II Type - I, indicating its designation for residential purposes.