Guideline Value for Murugappa Nagar 3rd Cross Street

Murugappa Nagar 3rd Cross Street guideline value

The current guideline value of Murugappa Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Murugappa Nagar 3rd Cross Street has changed

According to the guideline value register, there are no figures available for Murugappa Nagar 3rd Cross Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The current revision for 2024 shows a guideline value of Rs 2,200 per sq.ft.

There have been no changes between the revisions above, and the only figure available is from the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this village is Rs 2,750 per sq.ft, placing the 2024 figure for Murugappa Nagar 3rd Cross Street 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 2nd 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)
• Murugappa Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa Nagar 3rd 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 fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugappa Nagar 3rd Cross Street?

The Sub Registrar Office that covers Murugappa Nagar 3rd 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 is a critical factor when registering property transactions in Madipakkam-1. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is legally compliant.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Murugappa Nagar 3rd Cross Street?

The current guideline value of Murugappa Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no figures available 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 is the land classification for Murugappa Nagar 3rd Cross Street?

The land classification for Murugappa Nagar 3rd Cross Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties 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. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations in this area?

The Velacheri Sub Registrar Office handles property registrations for Murugappa Nagar 3rd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.