Guideline Value for Murugappa Nagar 6th Street

Murugappa Nagar 6th Street guideline value

The current guideline value of Murugappa Nagar 6th 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, classified as Residential Class II Type - I.

How the guideline value of Murugappa Nagar 6th Street has changed

The guideline value register for Murugappa Nagar 6th Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only recorded figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

In the 2024 revision, the guideline value was set at Rs 2,200 per sq.ft. There have been no changes between the revisions, as the register has no figures for the previous years listed.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 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 6th Street is below this median.

• Murugappa Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 4th 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 6th 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 duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugappa Nagar 6th Street?

The Sub Registrar Office covering Murugappa Nagar 6th 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 during property registration in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Murugappa Nagar 6th Street?

The current guideline value of Murugappa Nagar 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision for Murugappa Nagar 6th Street occurring in 2024. There are no figures available for the years 2023, 2017, 2012, 2007, 2003, and 2002.

What is the classification of Murugappa Nagar 6th Street?

Murugappa Nagar 6th Street is classified as Residential Class II Type - I under the guideline value register.

Where can I find the registration office for Murugappa Nagar 6th Street?

The registration office for Murugappa Nagar 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated based on the guideline value?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would amount to Rs 1,54,000.