Guideline Value for Murugesan Street Block 78

Murugesan Street Block 78 guideline value

The current guideline value of Murugesan Street Block 78 is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Murugesan Street Block 78 has changed

The guideline value for Murugesan Street Block 78 has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 800 per sq.ft. This figure saw a significant increase to Rs 4,500 per sq.ft in the 2012 revision, marking a change of +463%. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, which is an increase of +9% from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2003, 2002, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +513%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which is equal to the current guideline value of Murugesan Street Block 78.

• Murugesa Naicker Colony Block 79: Rs 4,100 per sq.ft (2024)
• Muthalamman Koil Extn: Rs 6,000 per sq.ft (2024)
• Muthalamman Koil Street(Moovender Colony) Block 62, 63: Rs 6,000 per sq.ft (2024)
• Murugan Street(Kodambakkam Salai): Rs 5,500 per sq.ft (2024)
• Murugan Store RoadS.No. 349/1 Part: Rs 2,200 per sq.ft (2024)
• Murthy Street Extension: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesan Street Block 78

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total fees Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugesan Street Block 78?

The Sub Registrar Office covering Murugesan Street Block 78 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 plays a crucial role during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Murugesan Street Block 78?

The current guideline value of Murugesan Street Block 78 is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, which is an overall increase of +513%.

What is the land classification for Murugesan Street Block 78?

The land classification for Murugesan Street Block 78 is Residential Class III Type - II.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers Murugesan Street Block 78, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.