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Guideline Value

Corporate

Guideline Value for Murugu Nagar 4th Main Road

₹4400/sq.ft.

The guideline value for Murugu Nagar 4th Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. 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 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
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 4th Main Road

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Murugu Nagar 4th Main Road guideline value

The current guideline value of Murugu Nagar 4th 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 4th Main Road has changed

The guideline value for Murugu Nagar 4th Main Road has undergone several revisions over the years. In 2002, the guideline 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 saw a significant jump to Rs 1,800 per sq.ft in 2007, reflecting a 353% increase. By 2012, the value remained at Rs 4,000 per sq.ft. The 2023 revision also kept the value at Rs 4,000 per sq.ft, showing no change during that period. However, in the 2024 revision, the guideline value rose to Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no figure available for the 2017 revision for this street. 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 that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Murugu Nagar 4th Main Road.

Stamp duty and registration fee for property in Murugu Nagar 4th 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 would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, making the total cost for these charges 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 4th Main Road?

The Sub Registrar Office that covers Murugu Nagar 4th 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 during the registration process when buying or selling property in Velachery. It is used to calculate the stamp duty and registration fees, ensuring that the transaction is documented accurately and complies with local regulations.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to determine the applicable duties and fees, ensuring that both the buyer and seller meet their legal obligations during the transaction.

Frequently asked questions

What is the current guideline value of Murugu Nagar 4th Main Road?

The current guideline value of Murugu Nagar 4th 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 significantly from Rs 354 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1143% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations in Velachery?

The Velacheri Sub Registrar Office handles property registrations in Velachery, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Are there other streets with the same guideline value in Velachery?

Yes, several other streets in Velachery have the same guideline value of Rs 4,400 per sq.ft, including Murugu Nagar 3rd Street, Murugu Nagar 4th Street, Murugu Nagar 3rd Main Road, and others.