Guideline Value for Murugappa Colony

Murugappa Colony guideline value

The current guideline value of Murugappa Colony, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Murugappa Colony has changed

Over the years, the guideline value of Murugappa Colony has experienced significant fluctuations. Starting from Rs 175 per sq.ft in 2003, the value increased to Rs 200 per sq.ft in 2007, marking a 14% rise. The 2012 revision saw a substantial jump to Rs 2,200 per sq.ft, reflecting a 1000% increase. However, in 2017, the value decreased to Rs 1,474 per sq.ft, a decline of 33%. The latest revision in 2024 has brought the guideline value back up to Rs 2,400 per sq.ft, an increase of 63% from 2017.

It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has risen by 1271%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which aligns with the current value for Murugappa Colony.

• Murugappa Pollytechnic street: Rs 2,400 per sq.ft (2024)
• Murugan Koil Street(srinagar colony): Rs 2,700 per sq.ft (2024)
• Murugan Koil Avenue (Srinagar Colony): Rs 2,700 per sq.ft (2024)
• Mullai Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Mullai Nagar Extn: Rs 1,300 per sq.ft (2024)
• Mullai Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. 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 more details.

Which Sub Registrar Office covers Murugappa Colony?

The Sub Registrar Office that covers Murugappa Colony is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Thirumullaivoyal, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Murugappa Colony?

The current guideline value of Murugappa Colony is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 175 per sq.ft in 2003 to Rs 2,400 per sq.ft in 2024, representing an overall increase of 1271%.

What is the land classification for Murugappa Colony?

Murugappa Colony is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Murugappa Colony?

The Sub Registrar Office for Murugappa Colony is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Murugappa Colony?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000, leading to a stamp duty of Rs 1,68,000.