Guideline Value for Murugathamman Pettai

Murugathamman Pettai guideline value

The current guideline value of Murugathamman Pettai is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Murugathamman Pettai has changed

The guideline value for Murugathamman Pettai has seen significant changes over the years. In 2003, the value was Rs 50 per sq.ft, which increased to Rs 85 per sq.ft in 2007. This was followed by a substantial rise to Rs 900 per sq.ft in 2012. However, the value dropped to Rs 603 per sq.ft in 2017 before climbing to Rs 900 per sq.ft again in 2023. The latest revision in 2024 set the value at Rs 990 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1880%. The register has no figure for the year 2002 for this street.

Guideline values in Padappai

Padappai village has a range of guideline values across its 146 streets, with the 2024 figures varying from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, placing Murugathamman Pettai's 2024 figure above this median.

• Murugathamman Nagar phase-II: Rs 830 per sq.ft (2024)
• Murugathamman Nagar: Rs 830 per sq.ft (2024)
• Munusamy Nagar: Rs 830 per sq.ft (2024)
• M.R.V.Nagar: Rs 830 per sq.ft (2024)
• Muthu Nagar: Rs 1,320 per sq.ft (2024)
• M.P.R Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Murugathamman Pettai

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the guideline value totals Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total charges to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugathamman Pettai?

The Sub Registrar Office that covers Murugathamman Pettai is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Padappai. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

When purchasing property, the guideline value helps in assessing the fair value of the property, and it is essential for both buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Murugathamman Pettai?

The current guideline value of Murugathamman Pettai is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 50 per sq.ft in 2003 to Rs 990 per sq.ft in 2024, with various fluctuations in between.

What is the median guideline value in Padappai?

The median guideline value in Padappai is Rs 830 per sq.ft, with Murugathamman Pettai's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Murugathamman Pettai?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles registrations for Murugathamman Pettai?

The registrations for Murugathamman Pettai are handled by the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.