Guideline Value for Murugesa Street

Murugesa Street guideline value

The current guideline value of Murugesa Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village, under the Sembiam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Murugesa Street has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in the 2012 revision, marking an increase of 80%. However, in the 2017 revision, the value decreased to Rs 1,206 per sq.ft, reflecting a decline of 33%. The value then saw a substantial rise to Rs 1,800 per sq.ft in the 2023 revision, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, representing a 6% increase from the previous year.

The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, which is the same as the current value for Murugesa Street.

• Munusamy Achari Street: Rs 1,900 per sq.ft (2024)
• Masilamani Lane: Rs 1,600 per sq.ft (2024)
• Market Street: Rs 3,900 per sq.ft (2024)
• Market Lane: Rs 1,900 per sq.ft (2024)
• New Street: Rs 1,900 per sq.ft (2024)
• Manicka Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty, charged at 7%, would amount to Rs 1,33,000, and the registration fee, charged at 2%, would be Rs 38,000. Together, the total cost for stamp duty and registration would be Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugesa Street?

The Sub Registrar Office that covers Murugesa Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Siruvallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Murugesa Street?

The current guideline value of Murugesa Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, showing an overall increase of 90% over the years.

What are the stamp duty and registration fees for property in Murugesa Street?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 19,00,000. The stamp duty would be Rs 1,33,000, and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office covers Murugesa Street?

The Sembiam Sub Registrar Office covers Murugesa Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Murugesa Street?

Murugesa Street is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.