Guideline Value for Thirumurugan Street,Sakthi Nagar Extension

Thirumurugan Street,Sakthi Nagar Extension guideline value

The current guideline value of Thirumurugan Street, Sakthi Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Thirumurugan Street,Sakthi Nagar Extension has changed

The guideline value for Thirumurugan Street has seen several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, placing Thirumurugan Street's 2024 figure below this median.

• Thirumurugan Nagar: Rs 1,650 per sq.ft (2024)
• Thirumurgan Street: Rs 1,650 per sq.ft (2024)
• Thirumoolar Street: Rs 3,850 per sq.ft (2024)
• Thirumalai Street: Rs 1,650 per sq.ft (2024)
• Thirupukazh Street: Rs 3,850 per sq.ft (2024)
• ThiruGnana Sambandam Street/Srinivasa Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Street,Sakthi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumurugan Street,Sakthi Nagar Extension?

The Sub Registrar Office that covers Thirumurugan Street, Sakthi 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 Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. 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 of the two is used to calculate the applicable duties. This ensures that the transaction is fairly assessed according to the established rates in the area.

Frequently asked questions

What is the current guideline value of Thirumurugan Street?

The current guideline value of Thirumurugan Street, Sakthi Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the stamp duty rate for properties in Thirumurugan Street?

The stamp duty rate for properties in Thirumurugan Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thirumurugan Street?

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

How many streets are there in Madipakkam-1?

There are 1,823 streets in Madipakkam-1 under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft.