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Guideline Value

Corporate

Guideline Value for Murugu Nagar 5th Street

₹4400/sq.ft.

The guideline value for Murugu Nagar 5th 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 ₹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 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 5th Street

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Murugu Nagar 5th Street guideline value

The current guideline value of Murugu Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Murugu Nagar 5th Street has changed

The guideline value for Murugu Nagar 5th Street has seen several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 1,800 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 122%. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and further increased to Rs 4,400 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, the guideline value surged by 49%. Overall, from 2007 to 2024, the guideline value has increased by 144%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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 the same as the current guideline value for Murugu Nagar 5th Street.

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

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, while the registration fee at 2% would be Rs 88,000. Together, these fees total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugu Nagar 5th Street?

The Sub Registrar Office that covers Murugu Nagar 5th 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 is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Murugu Nagar 5th 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 significantly from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 144% 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 for Murugu Nagar 5th Street?

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

What is the land classification for Murugu Nagar 5th Street?

The land classification for Murugu Nagar 5th Street is Residential Class II Type - II, which indicates its suitability for residential purposes.