Guideline Value for Murugappa iyer St.

Murugappa iyer St. guideline value

The current guideline value of Murugappa iyer St. is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Murugappa iyer St. has changed

The guideline value for Murugappa iyer St. has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was a decrease of 33% from Rs 1,876 per sq.ft in the 2017 revision. In 2023, the guideline value increased to Rs 2,800 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,000 per sq.ft, marking a 7% increase from the previous year.

From the 2012 revision to the 2024 revision, there has been an overall increase of 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value of Rs 3,000 per sq.ft for Murugappa iyer St. is below this median.

• Murugappa reddy 1st Street: Rs 3,000 per sq.ft (2024)
• Murugappa reddy 2nd Street: Rs 3,000 per sq.ft (2024)
• Murugappa reddy Street: Rs 3,000 per sq.ft (2024)
• Mugunthan Street: Rs 3,600 per sq.ft (2024)
• M.T.H.Road(Segment)(Police Station to Indl. Estate): Rs 6,500 per sq.ft (2024)
• M.T.H Road: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa iyer St.

For a 1,000 sq.ft plot at the current rate of Rs 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, totaling Rs 2,70,000. It is important to note that the 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 iyer St.?

The Sub Registrar Office that covers Murugappa iyer St. is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ambattur

The guideline value plays a crucial role in property transactions in Ambattur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is assessed to calculate the applicable fees. This value is essential for both buyers and sellers to understand, as it influences the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Murugappa iyer St.?

The current guideline value of Murugappa iyer St. is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 3,000 per sq.ft in 2024, with various increments and decrements in between.

What is the land classification for Murugappa iyer St.?

Murugappa iyer St. is classified as Residential Class II Type - I.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Murugappa iyer St., located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated on properties in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are paid during the registration of property transactions.