Guideline Value for Murugan Street

Murugan Street guideline value

The current guideline value of Murugan Street in Anakaputhur village is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Murugan Street has changed

The guideline value for Murugan Street has seen significant changes over the years. In 2002, the value was Rs 215 per sq.ft, which increased to Rs 216 per sq.ft in 2003. The value then rose to Rs 300 per sq.ft in 2007, and by 2017, it had jumped to Rs 1,072 per sq.ft. The 2023 revision set the value at Rs 1,600 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,760 per sq.ft. Notably, there is no figure available for the year 2012 in the register.

From 2002 to 2024, the overall increase in the guideline value is 719%. The most significant increase occurred between 2007 and 2017, with a rise of 257%. The change from 2023 to 2024 is a 10% increase, and the jump from 2017 to 2023 was 49%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Murugan Street's 2024 figure below that median.

• Murthi Colony: Rs 1,760 per sq.ft (2024)
• Mungil Lake (5th Street): Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar Dobigana Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar 2nd Cross Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar 1st Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Murugan Street?

The Sub Registrar Office that covers Murugan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the current market conditions as assessed by the Registration Department. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Murugan Street?

The current guideline value of Murugan Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase from Rs 1,600 per sq.ft in 2023 to Rs 1,760 per sq.ft in 2024. Overall, from 2002 to 2024, the increase is 719%.

What is the land classification for Murugan Street?

Murugan Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Murugan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200.