Guideline Value for Murugappan Street / Swamy Nagar

Murugappan Street / Swamy Nagar guideline value

The current guideline value of Murugappan Street / Swamy Nagar 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 has changed

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

There have been no changes between the revisions above, and the current figure is consistent with the median guideline value of Rs 2,750 per sq.ft for the 1823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median being Rs 2,750 per sq.ft. Murugappan Street / Swamy Nagar's 2024 figure aligns with this median.

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

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, totaling Rs 2,47,500. 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 Murugappan Street / Swamy Nagar?

The Velacheri Sub Registrar Office covers Murugappan Street / Swamy Nagar. The office is 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 during the registration of property transactions. It determines the minimum value at which properties can be registered and is used to calculate the stamp duty and registration fees applicable during the sale or purchase.

When buying or selling property in Madipakkam-1, the guideline value helps ensure that the transaction is documented at a fair value as per government regulations. It is important for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The register has no figure for Murugappan Street / Swamy Nagar for the years 2002, 2003, 2007, 2012, 2017, and 2023. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft.

What is the land classification for this street?

Murugappan Street / Swamy Nagar is classified as Residential Class I Type - III under the Velacheri SRO.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is 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 calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.