Guideline Value for Murugesan Avenue

Murugesan Avenue guideline value

The current guideline value of Murugesan Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - II.

How the guideline value of Murugesan Avenue has changed

The guideline value register for Murugesan Avenue shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 3,300 per sq.ft.

As there are no previous figures available for this street, the guideline value has remained unchanged since it was last recorded. The 2024 figure is the first and only value listed for Murugesan Avenue.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, which indicates that Murugesan Avenue's 2024 figure is above this median.

• Murugappan Street / Swamy Nagar (Main): Rs 2,750 per sq.ft (2024)
• Murugappan Street / Swamy Nagar Extension II: Rs 2,750 per sq.ft (2024)
• Murugappan Street / Swamy Nagar: Rs 2,750 per sq.ft (2024)
• Murugappa Nagar/Street: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Murugappa Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Murugesan Avenue?

The Sub Registrar Office that covers Murugesan Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices and preparing for registration.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Murugesan Avenue?

The current guideline value of Murugesan Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no recorded figures for Murugesan Avenue in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only figure available is from the 2024 revision.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Murugesan Avenue's 2024 figure is above this median.

What are the stamp duty and registration fees for property in Murugesan Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty at 7% is Rs 2,31,000, and the registration fee at 2% is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Murugesan Avenue?

The Velacheri Sub Registrar Office handles registrations for Murugesan Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.