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Guideline Value

Corporate

Guideline Value for Velmurugan Colony (Murugan Street)

₹3850/sq.ft.

The guideline value for Velmurugan Colony (murugan Street) in Saligramam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Saligramam

Village

Virugambakkam

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹421 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹385 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[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 Velmurugan Colony (murugan Street)

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Velmurugan Colony (Murugan Street) guideline value

The current guideline value of Velmurugan Colony (Murugan Street) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Velmurugan Colony (Murugan Street) has changed

The guideline value for Velmurugan Colony (Murugan Street) has undergone several revisions over the years. In 2002, the guideline value was Rs 385 per sq.ft. This increased to Rs 421 per sq.ft in 2003, marking a 9% rise. The value saw significant growth, reaching Rs 1,350 per sq.ft in 2007, which was a 221% increase from the previous revision. However, in 2012, the value was Rs 3,500 per sq.ft, reflecting a decrease of 33% from the 2007 figure.

From 2012, the value remained at Rs 3,500 per sq.ft until 2017, when it increased to Rs 2,345 per sq.ft. This was a 49% increase from the previous revision. The guideline value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that the 2024 figure for Velmurugan Colony (Murugan Street) is below this median.

Stamp duty and registration fee for property in Velmurugan Colony (Murugan Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Velmurugan Colony (Murugan Street)?

The Sub Registrar Office that covers Velmurugan Colony (Murugan Street) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Saligramam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in the real estate market.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Velmurugan Colony (Murugan Street)?

The current guideline value of Velmurugan Colony (Murugan Street) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 385 per sq.ft in 2002 to the current value of Rs 3,850 per sq.ft in 2024, marking an overall increase of 900% since 2002.

What are the stamp duty rates for property transactions in Velmurugan Colony?

The stamp duty for property transactions in Velmurugan Colony is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum price for property transactions and is essential for calculating stamp duty and registration fees during the registration process.