Guideline Value for Muruganandam Street

Muruganandam Street guideline value

The current guideline value of Muruganandam Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Grandlyon village under the Redhills SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Muruganandam Street has changed

The guideline value for Muruganandam Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 300 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a 100% rise. However, the value then decreased to Rs 402 per sq.ft in 2017, reflecting a decline of 33%. The most recent revisions show a significant increase, with the value rising to Rs 600 per sq.ft in 2023 and then to Rs 660 per sq.ft in 2024, which is a 10% increase.

In total, from the 2007 revision to the current 2024 figure, the guideline value has increased by 120%. The revisions for the years 2002 and 2003 do not have any figures recorded for Muruganandam Street.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which is the same as the guideline value for Muruganandam Street.

• Muthu Kumaran Nagar: Rs 515 per sq.ft (2024)
• Muthu Kumaran Nagar Annex: Rs 820 per sq.ft (2024)
• Naalvar Nagar: Rs 660 per sq.ft (2024)
• M.G.R. Street: Rs 660 per sq.ft (2024)
• M.C. Devaraj Nagar: Rs 880 per sq.ft (2024)
• Manonmani Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Muruganandam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 details.

Which Sub Registrar Office covers Muruganandam Street?

The Sub Registrar Office that covers Muruganandam Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in the property registration process in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during a property transaction.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate fees are collected. This helps maintain transparency and compliance with the registration laws in Tamil Nadu.

Frequently asked questions

What is the current guideline value of Muruganandam Street?

The current guideline value of Muruganandam Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the stamp duty and registration fees for a property in Muruganandam Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 6,60,000. The stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Muruganandam Street?

The Redhills Sub Registrar Office handles registrations for Muruganandam Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions, ensuring compliance with the registration laws in Tamil Nadu.