Guideline Value for Murugesa Naicker Colony Block 79

Murugesa Naicker Colony Block 79 guideline value

The current guideline value of Murugesa Naicker Colony Block 79 is Rs 4,100 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village, under the Ashok Nagar Sub Registrar Office. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Murugesa Naicker Colony Block 79 has changed

The guideline value for Murugesa Naicker Colony Block 79 has seen significant changes over the years. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased dramatically to Rs 3,750 per sq.ft in the 2012 revision, marking a change of +210%. The most recent revision in 2024 set the guideline value at Rs 4,100 per sq.ft, reflecting an increase of +9% from the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by +239%. It is important to note that the register does not contain figures for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Murugesa Naicker Colony Block 79 is below this median.

• Murugesan Street Block 78: Rs 4,900 per sq.ft (2024)
• Murugan Street(Kodambakkam Salai): Rs 5,500 per sq.ft (2024)
• Muthalamman Koil Extn: Rs 6,000 per sq.ft (2024)
• Murugan Store RoadS.No. 349/1 Part: Rs 2,200 per sq.ft (2024)
• Muthalamman Koil Street(Moovender Colony) Block 62, 63: Rs 6,000 per sq.ft (2024)
• Murthy Street Extension: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesa Naicker Colony Block 79

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. 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 Naicker Colony Block 79?

The Sub Registrar Office that covers Murugesa Naicker Colony Block 79 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Murugesa Naicker Colony Block 79?

The current guideline value of Murugesa Naicker Colony Block 79 is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 3,750 per sq.ft in 2012, and then to Rs 4,100 per sq.ft in 2024, showing significant increases over the years.

What is the land classification for Murugesa Naicker Colony Block 79?

The land classification for Murugesa Naicker Colony Block 79 is Residential Class IV Type - I.

Which Sub Registrar Office covers this area?

The Ashok Nagar Sub Registrar Office covers Murugesa Naicker Colony Block 79, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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, a property valued at Rs 41,00,000 would incur a stamp duty of Rs 2,87,000 at 7%.