Guideline Value for Murugesan Street, Lord Srinivasa Colony

Murugesan Street, Lord Srinivasa Colony guideline value

The current guideline value of Murugesan Street in Lord Srinivasa Colony, Pammal village, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Murugesan Street, Lord Srinivasa Colony has changed

The guideline value for Murugesan Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,800 per sq.ft. Prior to 2023, there are no figures available for the revisions in the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has increased from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024. The previous revisions do not have a recorded figure for this street, indicating that these years are not applicable for the guideline value assessment.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry 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, placing the 2024 figure for Murugesan Street below this median.

• Murugesa Mestri (a) Murugesan Street: Rs 1,760 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 Murugesan Street, Lord Srinivasa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total cost of Rs 1,78,200 for these charges. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugesan Street, Lord Srinivasa Colony?

The Sub Registrar Office that covers Murugesan Street, Lord Srinivasa Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in 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 is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value based on the prevailing rates in the area.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Murugesan Street?

The current guideline value of Murugesan Street, Lord Srinivasa Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024. There are no recorded figures for the revisions in the years 2017, 2012, 2007, 2003, and 2002.

What is the classification of Murugesan Street?

Murugesan Street is classified as Residential Class II Type - II under the Pammal SRO guidelines.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is higher than the current guideline value for Murugesan Street.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.