Guideline Value for Murugappa Nagar 4th Street

Murugappa Nagar 4th Street guideline value

The current guideline value for Murugappa Nagar 4th 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, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Murugappa Nagar 4th Street has changed

According to the register, there are no recorded guideline values for Murugappa Nagar 4th Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is the 2024 revision, which sets the guideline value at Rs 2,200 per sq.ft.

Since there are no figures available for the previous years, it is clear that the guideline value for Murugappa Nagar 4th Street has only been established in the 2024 revision. Therefore, there have been no changes in the guideline value for this street across the years listed.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Murugappa Nagar 4th Street's 2024 figure below this median.

• Murugappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 6th 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)

Stamp duty and registration fee for property in Murugappa Nagar 4th 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, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugappa Nagar 4th Street?

The Sub Registrar Office that covers Murugappa Nagar 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the officially recognized value of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall costs associated with 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 Nagar 4th Street?

The current guideline value of Murugappa Nagar 4th 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 recorded guideline values for Murugappa Nagar 4th Street in 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 median guideline value in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which means that the guideline value for Murugappa Nagar 4th Street is below this median.

What are the stamp duty and registration fees for a property in Murugappa Nagar 4th Street?

For a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% is Rs 1,54,000, and the registration fee at 2% is Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Murugappa Nagar 4th Street?

The Velacheri Sub Registrar Office handles the registration for Murugappa Nagar 4th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.