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Guideline Value

Corporate

Guideline Value for Murugu Nagar 4th Street

₹4400/sq.ft.

The guideline value for Murugu Nagar 4th Street 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 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Street

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Murugu Nagar 4th Street guideline value

The current guideline value of Murugu Nagar 4th Street 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 4th Street has changed

In the 2007 revision, the guideline value was Rs 1,800 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a change of +122%. The guideline value remained at Rs 4,000 per sq.ft in the 2023 revision. However, in the 2024 revision, it rose to Rs 4,400 per sq.ft, reflecting a change of +10% from the previous year.

There are no figures available for the years 2002, 2003, and 2017 in the register for Murugu Nagar 4th Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +144%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 figure 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 2024 figure for Murugu Nagar 4th Street.

Stamp duty and registration fee for property in Murugu Nagar 4th Street

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

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Murugu Nagar 4th Street?

The Sub Registrar Office that covers Murugu Nagar 4th Street 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 of property transactions in Velachery. It serves as the benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated fairly based on the property's value.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly influences the financial obligations involved in the transaction. Buyers should ensure that they are prepared for these costs when considering a property in the area.

Frequently asked questions

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

The current guideline value of Murugu Nagar 4th Street 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 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +144% over the years.

What are the stamp duty and registration fees for property transactions?

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 Sub Registrar Office should I visit for property registration?

The Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, covers Murugu Nagar 4th Street.

What is the land classification for Murugu Nagar 4th Street?

Murugu Nagar 4th Street is classified as Residential Class II Type - II, which is important for determining the applicable guidelines and regulations for property transactions in the area.