Guideline Value

Corporate

Guideline Value for Murugu Nagar Extension

₹4400/sq.ft.

The guideline value for Murugu Nagar Extension 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 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 Extension

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Murugu Nagar Extension guideline value

The current guideline value of Murugu Nagar Extension in Velachery village is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Murugu Nagar Extension has changed

The guideline value for Murugu Nagar Extension has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 354 per sq.ft, which increased to Rs 397 per sq.ft in 2003, marking a 12% increase. The value then surged dramatically to Rs 1,800 per sq.ft in 2007, a rise of 353%. Following this, the 2012 revision set the value at Rs 4,000 per sq.ft, reflecting a significant increase of 122% from the previous revision. The most recent revision in 2024 has established the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from 2012.

It is important to note that there are no figures available for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by a remarkable 1143%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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 aligns with the guideline value of Murugu Nagar Extension.

Stamp duty and registration fee for property in Murugu Nagar Extension

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, and the registration fee at 2% would be Rs 88,000, bringing the total to 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugu Nagar Extension?

The Sub Registrar Office that covers Murugu Nagar Extension 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 registering property transactions in Velachery. It serves as a benchmark for determining the minimum sale price of properties, ensuring that transactions are conducted at fair values as per government regulations.

When buyers and sellers engage in property transactions, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all parties are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Murugu Nagar Extension?

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

What is the land classification of Murugu Nagar Extension?

Murugu Nagar Extension is classified as Residential Class II Type - II.

Where is the Sub Registrar Office for Murugu Nagar Extension located?

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

How is stamp duty calculated for properties in Murugu Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.