Guideline Value for Murugappa reddy Street

Murugappa reddy Street guideline value

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

How the guideline value of Murugappa reddy Street has changed

The guideline value of Murugappa reddy Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then reduced to Rs 1,876 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,800 per sq.ft, and the most recent 2024 revision has set it at Rs 3,000 per sq.ft, marking a 7% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 7%.

In terms of percentage changes, there was a significant increase of 49% from the 2017 revision to the 2023 revision. However, the 2012 to 2017 period saw a decrease of 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a guideline value for 2024, 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 for Murugappa reddy Street is below this median.

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

Stamp duty and registration fee for property in Murugappa reddy 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, making the total costs together Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Murugappa reddy Street?

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

For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ambattur. It serves as a reference point for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

When a property transaction occurs, the buyer and seller must adhere to the guideline value to ensure compliance with local regulations. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Murugappa reddy Street?

The current guideline value of Murugappa reddy 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, followed by an increase to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Murugappa reddy Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 30,00,000, with a stamp duty of Rs 2,10,000 and a registration fee of Rs 60,000, totaling Rs 2,70,000.

Which Sub Registrar Office covers Murugappa reddy Street?

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

What is the land classification for Murugappa reddy Street?

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