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Guideline Value

Corporate

Guideline Value for Murugu Nagar 5th Main Road

₹4400/sq.ft.

The guideline value for Murugu Nagar 5th 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 ₹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 5th Main Road

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Murugu Nagar 5th Main Road guideline value

The current guideline value of Murugu Nagar 5th 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 5th Main Road has changed

The guideline value for Murugu Nagar 5th Main Road has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 354 per sq.ft. This figure increased to Rs 397 per sq.ft in 2003, marking a 12% rise. Following that, the value saw a significant increase to Rs 1,800 per sq.ft in 2007, which was a 353% jump. The 2012 revision saw the value remain at Rs 4,000 per sq.ft, and then it dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision raised the value back to Rs 4,000 per sq.ft, and the most recent 2024 revision established the current guideline value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,143%. There are no figures available for other revisions for this street.

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 equal to the 2024 figure for Murugu Nagar 5th Main Road.

Stamp duty and registration fee for property in Murugu Nagar 5th Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Murugu Nagar 5th Main Road?

The Sub Registrar Office that covers Murugu Nagar 5th 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

The guideline value is an important factor when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When you register a property, the guideline value serves as a benchmark for calculating the applicable fees. It is essential to note that the stamp duty is charged on the higher of the guideline value and the sale price, ensuring that the appropriate fees are collected based on the value of the property.

Frequently asked questions

What is the current guideline value of Murugu Nagar 5th Main Road?

The current guideline value of Murugu Nagar 5th 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, reflecting an overall increase of 1,143% over this period.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Murugu Nagar 5th Main Road?

The Sub Registrar Office for Murugu Nagar 5th Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the classification of land for Murugu Nagar 5th Main Road?

The land classification for Murugu Nagar 5th Main Road is Residential Class II Type - II, indicating its intended use for residential purposes.