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Guideline Value

Corporate

Guideline Value for Murugu Nagar 2nd Main Road

₹4400/sq.ft.

The guideline value for Murugu Nagar 2nd 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 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹644 /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 2nd Main Road

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Murugu Nagar 2nd Main Road guideline value

The current guideline value of Murugu Nagar 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road 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 2nd Main Road has changed

The guideline value for Murugu Nagar 2nd Main Road has undergone several revisions over the years. Starting from Rs 354 per sq.ft in 2002, it increased to Rs 644 per sq.ft in 2003, marking an increase of 82%. The value then rose significantly to Rs 1,800 per sq.ft in 2007, which was a 180% increase. In 2012, the value reached Rs 4,000 per sq.ft, reflecting a 122% rise from the previous revision. However, there was a decline to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 saw the guideline value increase to Rs 4,400 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that the register has no figure for this street for the year 2023. Overall, from 2002 to 2024, the guideline value has increased by 1143%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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 equal to the guideline value of Murugu Nagar 2nd Main Road.

Stamp duty and registration fee for property in Murugu Nagar 2nd 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 at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugu Nagar 2nd Main Road?

The Sub Registrar Office that covers Murugu Nagar 2nd 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It is the minimum value set by the government for property transactions and is used to calculate the stamp duty and registration fees applicable to the sale.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair price. 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 Murugu Nagar 2nd Main Road?

The current guideline value of Murugu Nagar 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 354 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1143% over the years.

What is the land classification for Murugu Nagar 2nd Main Road?

The land classification for Murugu Nagar 2nd Main Road is Residential Class II Type - II.

Where can I find the Sub Registrar Office for Murugu Nagar 2nd Main Road?

The Sub Registrar Office for Murugu Nagar 2nd Main Road is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be calculated accordingly.