Guideline Value

Corporate

Guideline Value for Murugathamman Nagar phase-II

₹830/sq.ft.

The guideline value for Murugathamman Nagar Phase-ii in Padappai village (Padappai SRO, Chennai zone) is Rs 830 per sq.ft, effective 1 July 2024. It was Rs 750 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Padappai

Village

Padappai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹830 /sq.ft.
From 1-4-2023 ₹750 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹502 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Murugathamman Nagar Phase-ii

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Murugathamman Nagar phase-II guideline value

The current guideline value of Murugathamman Nagar phase-II is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village and falls under the Padappai SRO. The land classification for this region is Residential Class III Type - I.

How the guideline value of Murugathamman Nagar phase-II has changed

The guideline value for Murugathamman Nagar phase-II has seen significant changes over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 502 per sq.ft. This figure increased to Rs 750 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 830 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with the median being Rs 830 per sq.ft. The guideline value of Murugathamman Nagar phase-II is equal to this median.

Stamp duty and registration fee for property in Murugathamman Nagar phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, while the registration fee at 2% would be Rs 16,600, bringing the total to Rs 74,700. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Murugathamman Nagar phase-II?

The Sub Registrar Office that covers Murugathamman Nagar phase-II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Murugathamman Nagar phase-II?

The current guideline value of Murugathamman Nagar phase-II is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and then to Rs 830 per sq.ft in 2024. This represents a 65% increase overall from 2017 to 2024.

What is the land classification for Murugathamman Nagar phase-II?

The land classification for Murugathamman Nagar phase-II is Residential Class III Type - I.

What are the other streets in Padappai and their guideline values?

Other streets in Padappai include Murugathamman Pettai at Rs 990 per sq.ft, Munusamy Nagar at Rs 830 per sq.ft, M.R.V.Nagar at Rs 830 per sq.ft, Muthu Nagar at Rs 1,320 per sq.ft, and M.P.R Nagar at Rs 990 per sq.ft for the year 2024.

Where is the Sub Registrar Office for Murugathamman Nagar phase-II located?

The Sub Registrar Office for Murugathamman Nagar phase-II is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.