Guideline Value for Murugesan street

Murugesan street guideline value

The current guideline value of Murugesan street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - I.

How the guideline value of Murugesan street has changed

The guideline value for Murugesan street has undergone several revisions over the years. In 2002, the guideline value was Rs 627 per sq.ft, which increased to Rs 692 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase of 73% to Rs 1,200 per sq.ft in 2007. Following this, the guideline value jumped to Rs 3,600 per sq.ft in 2012, reflecting a 200% increase from the previous revision.

However, the value dropped by 33% to Rs 2,412 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,600 per sq.ft in 2023 and a further rise of 8% to the current Rs 3,900 per sq.ft in 2024. There are no figures available for any other revisions for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing the guideline value of Murugesan street below this median.

• Murugesan NaickenStreet: Rs 3,900 per sq.ft (2024)
• Murthy Nagar: Rs 6,300 per sq.ft (2024)
• Murrari Avenue: Rs 13,400 per sq.ft (2024)
• Munusamy Lane: Rs 4,900 per sq.ft (2024)
• Muniya PillaiSTreet: Rs 7,100 per sq.ft (2024)
• Muktha Garden: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesan street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total costs together to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugesan street?

The Sub Registrar Office that covers Murugesan street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is sold or bought, the guideline value is referred to ensure that the transaction is registered at a value that reflects the current market standards set by the Registration Department. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Murugesan street?

The current guideline value of Murugesan street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 627 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 522% over the years.

What is the land classification for Murugesan street?

Murugesan street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in Murugesan street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Murugesan street?

The Periamet Sub Registrar Office handles registrations for Murugesan street, located at 1103, Poonamallee High Road, Chennai-600 003.