Guideline Value for Murugappa Nagar 5th Street

Murugappa Nagar 5th Street guideline value

The current guideline value of Murugappa Nagar 5th 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 5th Street has changed

The guideline value register has no figures for Murugappa Nagar 5th Street for 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.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, which means that the guideline value of Murugappa Nagar 5th Street is below the median.

• Murugappa Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 3rd Cross 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 5th 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, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugappa Nagar 5th Street?

The Sub Registrar Office that covers Murugappa Nagar 5th 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is registered at a value that reflects the official guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Murugappa Nagar 5th Street?

The current guideline value of Murugappa Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value can be revised periodically, with the most recent revision for Murugappa Nagar 5th Street taking place in 2024.

Where can I find the guideline value register?

The guideline value register can be accessed through the Registration Department's official portal, known as TNReginet.

What is the stamp duty rate for properties in Murugappa Nagar 5th Street?

The stamp duty rate for properties in Murugappa Nagar 5th Street is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in this area?

The registration fee for properties in Murugappa Nagar 5th Street is 2% of the guideline value or the sale price, whichever is higher.