Guideline Value for VAIBHAVS MURUGAN ENCLAVE

Vaibhavs Murugan Enclave guideline value

The current guideline value of Vaibhavs Murugan Enclave is Rs 2,700 per sq.ft, effective from 1 July 2024. This property is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class I Type - III.

How the guideline value of Vaibhavs Murugan Enclave has changed

Since the 2017 revision, the guideline value has seen significant increases. The 2017 revision recorded a value of Rs 1,675 per sq.ft, which rose to Rs 2,500 per sq.ft in the 2023 revision, marking a substantial increase of 49%. The latest 2024 revision further increased the value to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Vaibhavs Murugan Enclave's 2024 figure above this median.

• U.V.Swaminathan Iyer Street: Rs 1,400 per sq.ft (2024)
• Uma Nagar-Thirukural 1stStreet: Rs 1,400 per sq.ft (2024)
• Valmiki Sali: Rs 950 per sq.ft (2024)
• Vasantham Avenue: Rs 950 per sq.ft (2024)
• Vasantham Nagar: Rs 950 per sq.ft (2024)
• Thiru Vi.Ka 2nd Cross Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vaibhavs Murugan Enclave

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. Please 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 more details.

Which Sub Registrar Office covers Vaibhavs Murugan Enclave?

The Sub Registrar Office that covers Vaibhavs Murugan Enclave is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration of a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value must be referred to for calculating the applicable duties. This ensures that the transaction is registered at a value that reflects the official rates set by the government.

Frequently asked questions

What is the current guideline value of Vaibhavs Murugan Enclave?

The current guideline value of Vaibhavs Murugan Enclave is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024. This represents a 61% increase from 2017 to 2024.

What is the land classification of Vaibhavs Murugan Enclave?

Vaibhavs Murugan Enclave is classified as Residential Class I Type - III, indicating its designation for residential purposes.

What are the stamp duty rates for properties in Vaibhavs Murugan Enclave?

The stamp duty for properties in Vaibhavs Murugan Enclave is charged at a rate of 7% on the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

Where can I find the Sub Registrar Office for Vaibhavs Murugan Enclave?

The Sub Registrar Office covering Vaibhavs Murugan Enclave is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information by visiting the relevant link.