Guideline Value for Vedhantha Murugappan 3rd Street

Vedhantha Murugappan 3rd Street guideline value

The current guideline value of Vedhantha Murugappan 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Vedhantha Murugappan 3rd Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This increased to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 11%. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent 2024 revision has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Vedhantha Murugappan 3rd Street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Vedhantha Murugappan 3rd Street's 2024 figure aligns with this median.

• Vedhantha Murugappan 2nd Street: Rs 2,200 per sq.ft (2024)
• Vedhantha Murugappan 4th Street: Rs 2,200 per sq.ft (2024)
• Vedhantha Murugappan 1st Street: Rs 2,200 per sq.ft (2024)
• Vedhantha Murugappan Salai 1st Lane: Rs 2,200 per sq.ft (2024)
• Vedhantha Murugappan Salai 2nd Lane: Rs 2,200 per sq.ft (2024)
• Vedhantha Murugappan Salai (Othavadai Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhantha Murugappan 3rd Street

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 the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vedhantha Murugappan 3rd Street?

The Sub Registrar Office that covers Vedhantha Murugappan 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property transactions.

When a property is bought or sold, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vedhantha Murugappan 3rd Street?

The current guideline value of Vedhantha Murugappan 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,500 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 47% over this period.

What is the land classification for Vedhantha Murugappan 3rd Street?

Vedhantha Murugappan 3rd Street is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Selavoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.