Guideline Value for Murugappa reddy 1st Street

Murugappa reddy 1st Street guideline value

The current guideline value of Murugappa reddy 1st Street 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 reddy 1st Street has changed

The guideline value for Murugappa reddy 1st Street has seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 2,800 per sq.ft. This was followed by a decrease to Rs 1,876 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,800 per sq.ft, and the latest revision in 2024 set the value at Rs 3,000 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The transition from 2023 to 2024 saw a rise of 7%. Overall, from 2012 to 2024, the guideline value has increased by 7%. It is important to note that there are no figures available for the revisions in 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. The median guideline value in this area is Rs 3,600 per sq.ft, placing Murugappa reddy 1st Street's 2024 figure below that median.

• Murugappa reddy 2nd Street: Rs 3,000 per sq.ft (2024)
• Murugappa reddy Street: Rs 3,000 per sq.ft (2024)
• Murugappa iyer St.: 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 reddy 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total 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, bringing the total to Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugappa reddy 1st Street?

The Sub Registrar Office that covers Murugappa reddy 1st Street 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 is a critical factor during property registration in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value influences the amount of stamp duty and registration fees payable. It is essential for both buyers and sellers to be aware of the current guideline value to accurately assess the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Murugappa reddy 1st Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification for Murugappa reddy 1st Street?

Murugappa reddy 1st Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Murugappa reddy 1st Street?

The Sub Registrar Office for Murugappa reddy 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Ambattur?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 30,00,000 would incur a stamp duty of Rs 2,10,000 at a rate of 7%.