Guideline Value for Murugappa Achari Street Chennai-5

Murugappa Achari Street Chennai-5 guideline value

The current guideline value of Murugappa Achari Street Chennai-5 is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO and is classified as Residential Class II Type - I.

How the guideline value of Murugappa Achari Street Chennai-5 has changed

The guideline value for Murugappa Achari Street has seen several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the value to Rs 5,500 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street in the register.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, positioning the 2024 value of Murugappa Achari Street below this median.

• Musafar Jung Bahadur Street: Rs 6,600 per sq.ft (2024)
• Muniyappa Chetty Street: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Street: Rs 7,700 per sq.ft (2024)
• Muktharunnissa Begum 7th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 6th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 5th lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa Achari Street Chennai-5

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value totals Rs 55,00,000. The stamp duty at 7% amounts to Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000, bringing the total to Rs 4,95,000. 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 further calculations.

Which Sub Registrar Office covers Murugappa Achari Street Chennai-5?

The Sub Registrar Office covering Murugappa Achari Street Chennai-5 is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during property transactions in Triplicane, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Murugappa Achari Street Chennai-5?

The current guideline value of Murugappa Achari Street Chennai-5 is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, and then increased to Rs 5,500 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What is the land classification for Murugappa Achari Street?

Murugappa Achari Street is classified as Residential Class II Type - I under the Triplicane SRO.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Murugappa Achari Street located?

The Sub Registrar Office for Murugappa Achari Street is located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.