Guideline Value for Murugappan Street / Swamy Nagar (Main)

Murugappan Street / Swamy Nagar (Main) guideline value

The current guideline value of Murugappan Street / Swamy Nagar (Main) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Murugappan Street / Swamy Nagar (Main) has changed

The guideline value register for Murugappan Street / Swamy Nagar (Main) shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 2,750 per sq.ft.

Prior to the 2024 revision, there were no recorded figures for this street in the register. Therefore, the only available guideline value is from the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Murugappan Street / Swamy Nagar (Main) matches this median.

• Murugappan Street / Swamy Nagar Extension II: Rs 2,750 per sq.ft (2024)
• Murugappan Street / Swamy Nagar: Rs 2,750 per sq.ft (2024)
• Murugappa Nagar/Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar Main Road: 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)

Stamp duty and registration fee for property in Murugappan Street / Swamy Nagar (Main)

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugappan Street / Swamy Nagar (Main)?

The Sub Registrar Office that covers Murugappan Street / Swamy Nagar (Main) 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 in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This valuation is important for financial planning and legal compliance during the transaction process.

Frequently asked questions

What is the current guideline value of Murugappan Street / Swamy Nagar (Main)?

The current guideline value of Murugappan Street / Swamy Nagar (Main) is Rs 2,750 per sq.ft, effective from 1 July 2024.

Has the guideline value changed in recent years?

There have been no recorded figures for Murugappan Street / Swamy Nagar (Main) in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

What is the classification of land for Murugappan Street / Swamy Nagar (Main)?

The land classification for Murugappan Street / Swamy Nagar (Main) is Residential Class I Type - III.

Where can I find the registration office for Murugappan Street / Swamy Nagar (Main)?

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

How is stamp duty calculated for properties in this area?

Stamp duty is charged at 7% on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.