Guideline Value for Murugesa Mestri (a) Murugesan Street

Murugesa Mestri (a) Murugesan Street guideline value

The current guideline value of Murugesa Mestri (a) Murugesan Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Murugesa Mestri (a) Murugesan Street has changed

The guideline value for Murugesa Mestri (a) Murugesan Street has undergone significant changes since its first recorded revision. In 2002, the guideline value was Rs 169 per sq.ft. This increased to Rs 191 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 260 per sq.ft, reflecting a 36% change from the previous revision. However, there are no figures recorded for this street in the 2012 and 2017 revisions.

In 2023, the guideline value reached Rs 1,600 per sq.ft, which was a substantial increase of 515% from the 2007 figure. The most recent revision in 2024 shows the guideline value at Rs 1,760 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 941%.

Guideline values in Pammal

In Pammal, there are a total of 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which means that the guideline value of Murugesa Mestri (a) Murugesan Street is below this median.

• Murugesan Street, Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 1st Street: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 2nd Street: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 3rd Street: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 4th Street: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesa Mestri (a) Murugesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, resulting in a total of Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugesa Mestri (a) Murugesan Street?

The Sub Registrar Office that covers Murugesa Mestri (a) Murugesan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Murugesa Mestri (a) Murugesan Street?

The current guideline value of Murugesa Mestri (a) Murugesan Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 169 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, representing an overall increase of 941% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office is responsible for Murugesa Mestri (a) Murugesan Street?

The Pammal Sub Registrar Office is responsible for Murugesa Mestri (a) Murugesan Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value of streets in Pammal?

The median guideline value of streets in Pammal is Rs 2,090 per sq.ft, which is higher than the guideline value of Murugesa Mestri (a) Murugesan Street.