Guideline Value for THIRU MURTHY STREET

Thiru Murthy Street guideline value

The current guideline value of Thiru Murthy Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thiru Murthy Street has changed

The guideline value for Thiru Murthy Street has seen several revisions over the years. In 2002, the value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a change of +10%. The value then rose by +30% to Rs 600 per sq.ft in 2007. Following this, there was a significant increase of +400%, bringing the value to Rs 3,000 per sq.ft in 2012. However, this figure dropped by -33% to Rs 2,010 per sq.ft in 2017. In 2023, the value increased by +49% to Rs 3,000 per sq.ft, and as of the 2024 revision, it stands at Rs 3,200 per sq.ft, reflecting a change of +7% from the previous year.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by +662%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which means that Thiru Murthy Street's 2024 figure is above this median.

• Thiruppur Kumaran Street: Rs 3,800 per sq.ft (2024)
• Thilagar Street: Rs 2,700 per sq.ft (2024)
• Thidir (Nagar) Street: Rs 2,200 per sq.ft (2024)
• Thidir Nagar All Streets (Gandhi Nagar): Rs 2,200 per sq.ft (2024)
• Thiruvalluvarpuram (A) Sri Valluvarpuram: Rs 3,800 per sq.ft (2024)
• Thiruvalluvar Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Murthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000. Together, the total cost for stamp duty and registration fee would be Rs 2,88,000. 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 accurate calculations.

Which Sub Registrar Office covers Thiru Murthy Street?

The Sub Registrar Office that covers Thiru Murthy Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value based on government assessments.

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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiru Murthy Street?

The current guideline value of Thiru Murthy Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 420 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, showing an overall increase of +662% over the years.

What is the land classification for Thiru Murthy Street?

The land classification for Thiru Murthy Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Thiru Murthy Street?

The Sub Registrar Office for Thiru Murthy Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Thiru Murthy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 32,00,000, the stamp duty at 7% would be Rs 2,24,000.