Guideline Value for Murugappa Nagar Main Road

Murugappa Nagar Main Road guideline value

The current guideline value of Murugappa Nagar Main Road 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 Main Road has changed

The guideline value register for Murugappa Nagar Main Road does not have figures 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, effective from 1 July 2024.

Since there are no figures for the previous revisions, there have been no changes recorded in the guideline value for this street between the revisions listed.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft, and the median value being Rs 2,750 per sq.ft. The guideline value for Murugappa Nagar Main Road is below this median.

• Murugappa Nagar/Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• 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)
• Murugappan Street / Swamy Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa Nagar Main Road

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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. 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 information.

Which Sub Registrar Office covers Murugappa Nagar Main Road?

The Murugappa Nagar Main Road falls under 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 is an essential factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price to ascertain the higher amount, which is then used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Murugappa Nagar Main Road?

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

Are there any previous guideline values for Murugappa Nagar Main Road?

The guideline value register does not have figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Murugappa Nagar Main Road. The only available figure is from the 2024 revision.

What is the land classification for Murugappa Nagar Main Road?

The land classification for Murugappa Nagar Main Road is Residential Class II Type - I, indicating its suitability for residential development.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 1,98,000.

Where can I find the Sub Registrar Office for Murugappa Nagar Main Road?

The Velacheri Sub Registrar Office covers Murugappa Nagar Main Road and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information by visiting the relevant link.