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Guideline Value for Swamy Nagar Extension II , Murugappan Street /

₹2750/sq.ft.

The guideline value for Swamy Nagar Extension Ii , Murugappan Street / in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
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 Swamy Nagar Extension Ii , Murugappan Street /

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Swamy Nagar Extension II , Murugappan Street / guideline value

The current guideline value of Swamy Nagar Extension II, Murugappan Street / is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Swamy Nagar Extension II , Murugappan Street / has changed

The guideline value for Swamy Nagar Extension II, Murugappan Street / has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase of 10% from the 2023 revision figure of Rs 2,500 per sq.ft. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the last recorded guideline value was Rs 2,500 per sq.ft in 2023. The register does not provide figures for the earlier years mentioned, indicating that there may have been no updates for this street during those periods. The current 2024 value aligns with the median guideline value of Rs 2,750 per sq.ft for Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, which is the same as the current guideline value for Swamy Nagar Extension II, Murugappan Street /.

Stamp duty and registration fee for property in Swamy Nagar Extension II , Murugappan Street /

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Swamy Nagar Extension II , Murugappan Street /?

The Sub Registrar Office that covers Swamy Nagar Extension II, Murugappan 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 Madipakkam-1

The guideline value is a critical factor when registering property transactions in Madipakkam-1. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as determined by the local government.

When buying or selling property, it is essential to consider the guideline value as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can significantly impact the total expenses involved in the property transfer.

Frequently asked questions

What is the current guideline value of Swamy Nagar Extension II, Murugappan Street /?

The current guideline value of Swamy Nagar Extension II, Murugappan Street / is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Swamy Nagar Extension II, Murugappan Street /?

Swamy Nagar Extension II, Murugappan Street / is classified as Residential Class I Type - III.

Where is the Velacheri Sub Registrar Office located?

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

How is the stamp duty calculated for property in Swamy Nagar Extension II, Murugappan Street /?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.