Guideline Value for Murugappa Nagar 2nd Cross Street

Murugappa Nagar 2nd Cross Street guideline value

The current guideline value of Murugappa Nagar 2nd Cross Street is Rs 2,200 per sq.ft. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Murugappa Nagar 2nd Cross Street has changed

According to the guideline value register, there are no figures for Murugappa Nagar 2nd Cross Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 2,200 per sq.ft.

As per the 2024 revision, there have been no changes in the guideline value for this street compared to previous years. The current rate remains consistent with the figures from other streets in the same locality.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Murugappa Nagar 2nd Cross Street is below this median.

• Murugappa Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugappa Nagar 2nd Cross Street?

The Sub Registrar Office that covers Murugappa Nagar 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. 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 registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the correct amounts are paid to the authorities.

Frequently asked questions

What is the current guideline value of Murugappa Nagar 2nd Cross Street?

The current guideline value of Murugappa Nagar 2nd Cross Street is Rs 2,200 per sq.ft as per the 2024 revision.

What is the land classification for Murugappa Nagar 2nd Cross Street?

Murugappa Nagar 2nd Cross Street falls under the Residential Class II Type - I land classification.

How has the guideline value changed over the years?

There are no figures for Murugappa Nagar 2nd Cross Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Murugappa Nagar 2nd Cross Street?

The Velacheri Sub Registrar Office covers Murugappa Nagar 2nd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.