Guideline Value for New Murugappan Colony

New Murugappan Colony guideline value

The current guideline value of New Murugappan Colony is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of New Murugappan Colony has changed

The guideline value for New Murugappan Colony has seen revisions over the years. In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,400 per sq.ft, marking a change of +9% from the 2012 figure.

There are no figures available for the revisions in the years 2002, 2003, 2007, 2017, and 2023 for this street. Thus, the only recorded revisions are from 2012 and 2024.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, making the guideline value of New Murugappan Colony equal to this median.

• Newry Sanctum: Rs 2,700 per sq.ft (2024)
• New Anna Nagar Tnscb Scheme: Rs 2,200 per sq.ft (2024)
• Nethaji Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Nethaji Nagar Thirumalaiyappan 2nd Street: Rs 2,400 per sq.ft (2024)
• Nethaji Nagar Thirumalaiyappan 1st Street: Rs 2,400 per sq.ft (2024)
• North Mada 1st Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Murugappan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, leading to a total of Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Murugappan Colony?

The New Murugappan Colony falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thirumullaivoyal

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of New Murugappan Colony?

The current guideline value of New Murugappan Colony is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value was Rs 2,200 per sq.ft in 2012 and increased to Rs 2,400 per sq.ft in 2024, reflecting a change of +9% over this period. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification for New Murugappan Colony?

The land classification for New Murugappan Colony is Residential Class I Type - I. This classification is important for determining the usage and potential of the land.

What are the stamp duty and registration fees for a property in New Murugappan Colony?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. This office handles the registration of properties in the area.