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Guideline Value

Corporate

Guideline Value for Murugu Nagar 3rd Main Road

₹4400/sq.ft.

The guideline value for Murugu Nagar 3rd 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 ₹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 3rd Main Road

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Murugu Nagar 3rd Main Road guideline value

The current guideline value of Murugu Nagar 3rd 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 3rd Main Road has changed

The guideline value for Murugu Nagar 3rd Main Road has undergone several revisions over the years. In 2002, the value was Rs 354 per sq.ft, which increased to Rs 397 per sq.ft in 2003, marking an increase of 12%. The value saw a significant rise to Rs 1,800 per sq.ft in 2007, representing a 353% increase. Following this, the value further increased to Rs 4,000 per sq.ft in 2012, which was a 122% rise. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 brought the guideline value up to Rs 4,400 per sq.ft, a substantial increase of 64% from 2017.

It is important to note that there is no figure available for the 2023 revision for this street.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with guideline values for 2024 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 3rd Main Road.

Stamp duty and registration fee for property in Murugu Nagar 3rd 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, resulting in a total of 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugu Nagar 3rd Main Road?

The Sub Registrar Office that covers Murugu Nagar 3rd 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 is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used by the registration department to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local laws.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to determine the appropriate fees. If the sale price is lower than the guideline value, the fees will be based on the guideline value, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Murugu Nagar 3rd Main Road?

The current guideline value for Murugu Nagar 3rd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent revision in 2024 showing a 64% increase from Rs 2,680 per sq.ft in 2017.

What is the land classification for Murugu Nagar 3rd Main Road?

Murugu Nagar 3rd Main Road is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

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

How is stamp duty calculated for properties in this area?

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