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Guideline Value

Corporate

Guideline Value for Murugu Nagar 1st Main Road

₹4400/sq.ft.

The guideline value for Murugu Nagar 1st Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹397 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹354 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Murugu Nagar 1st Main Road

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Murugu Nagar 1st Main Road guideline value

The current guideline value of Murugu Nagar 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Murugu Nagar 1st Main Road has changed

Over the years, the guideline value of Murugu Nagar 1st Main Road has seen significant changes. In 2002, the value was Rs 354 per sq.ft, which increased to Rs 397 per sq.ft in 2003, marking a rise of 12%. The value then surged dramatically to Rs 1,800 per sq.ft in 2007, reflecting a substantial increase of 353%. Following this, the 2017 revision set the value at Rs 2,680 per sq.ft, a 49% increase from 2007. The most recent revision in 2024 brought the guideline value to Rs 4,400 per sq.ft, representing a 64% increase from 2017.

It is important to note that the register has no figures for the revisions in 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,143%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Murugu Nagar 1st Main Road.

Stamp duty and registration fee for property in Murugu Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugu Nagar 1st Main Road?

The Sub Registrar Office that covers Murugu Nagar 1st Main Road 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 details.

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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The registration process requires that the property be valued at or above the guideline value, which serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Murugu Nagar 1st Main Road?

The current guideline value of Murugu Nagar 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 354 per sq.ft to Rs 4,400 per sq.ft in 2024, representing an overall increase of 1,143%.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with the same guideline value of Rs 4,400 per sq.ft include Murugu Nagar 1st Cross Street, Murugu Nagar 1st Street, Murugu Nagar, Murugu Nagar 2nd Cross Street, Murugu Nagar 2nd Main Road, and Murugu Nagar 2nd Street.

What fees are associated with buying property in Murugu Nagar 1st Main Road?

When buying property, the fees include stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Where can I find the Sub Registrar Office for Murugu Nagar 1st Main Road?

The Velacheri Sub Registrar Office covers Murugu Nagar 1st Main Road and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.