Guideline Value for Murugan koil Street

Murugan koil Street guideline value

The current guideline value of Murugan koil Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Kattupakkam village, under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Murugan koil Street has changed

The guideline value for Murugan koil Street has seen several revisions over the years. In 2003, the value was Rs 85 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2007. Following this, the value surged to Rs 3,200 per sq.ft in 2012, before dropping to Rs 2,144 per sq.ft in 2017. The value then rose to Rs 3,200 per sq.ft in 2023, and finally reached Rs 3,520 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 4041%. The register has no figure for this street in 2002.

Guideline values in Kattupakkam

Kattupakkam village has 75 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Murugan koil Street's 2024 figure above that median.

• Murugappan Nagar: Rs 2,090 per sq.ft (2024)
• Muslim Street: Rs 2,090 per sq.ft (2024)
• M.S.S. Nagar: Rs 3,520 per sq.ft (2024)
• M.S.R. Nagar: Rs 2,090 per sq.ft (2024)
• M.S. Nagar: Rs 2,090 per sq.ft (2024)
• M.R.V. Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan koil Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. 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 koil Street?

The Sub Registrar Office that covers Murugan koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kattupakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the transaction value for taxation purposes. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Murugan koil Street?

The current guideline value of Murugan koil Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 85 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Murugan koil Street?

The land classification for Murugan koil Street is Residential Special Type - I.

What is the registration office for Murugan koil Street?

The registration office covering Murugan koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 2,46,400.