Guideline Value for Murugesapuram

Murugesapuram guideline value

The current guideline value of Murugesapuram, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Murugesapuram has changed

Over the years, the guideline value of Murugesapuram has seen significant changes. Starting from Rs 192 per sq.ft in 2003, it increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 213%. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, which was a remarkable increase of 400%. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. In 2023, the value rose again to Rs 3,000 per sq.ft, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1619%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for this area is Rs 3,300 per sq.ft, which matches the current value for Murugesapuram.

• Murugesapuram 1 To 4 Streets: Rs 3,300 per sq.ft (2024)
• Muthalamman Koil Street: Rs 2,100 per sq.ft (2024)
• Murugavel Nagar: Rs 2,100 per sq.ft (2024)
• Murugan Koil Street: Rs 2,100 per sq.ft (2024)
• Munusamy Street: Rs 3,520 per sq.ft (2024)
• Municipal Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. 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 our stamp duty and registration fee calculator for more assistance.

Which Sub Registrar Office covers Murugesapuram?

The Sub Registrar Office that covers Murugesapuram is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are calculated based on the official value set by the government.

When a property is sold, the guideline value is used to assess the minimum value for registration, which helps in maintaining transparency and avoiding undervaluation of properties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Murugesapuram?

The current guideline value of Murugesapuram is Rs 3,300 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 192 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with various increases and decreases along the way.

What is the land classification of Murugesapuram?

Murugesapuram is classified as Residential Class I Type - II, indicating its intended use for residential purposes.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Murugesapuram?

The Pallavaram Sub Registrar Office covers Murugesapuram and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.