Guideline Value for MURALI NAGAR

Murali Nagar guideline value

The current guideline value of Murali Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under Kizhnallathur & Melnallathur village and is classified as Residential Class II Type - II. The guideline value is crucial for property transactions in this locality.

How the guideline value of Murali Nagar has changed

Over the years, the guideline value of Murali Nagar has seen various revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision also maintains this figure, showing no change from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 200 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 1,201 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, placing Murali Nagar's 2024 figure below this median.

• Moogambigai Nagar: Rs 226 per sq.ft (2024)
• Maruthi Avenue: Rs 250 per sq.ft (2024)
• Pallavan Thirnagar: Rs 300 per sq.ft (2024)
• Pallavan Thirnagar Extension 2: Rs 300 per sq.ft (2024)
• Parvathy Nagar: Rs 300 per sq.ft (2024)
• P.P.NAGAR (S.No.191/1,5A): Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Murali Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murali Nagar?

The Sub Registrar Office that covers Murali Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value plays a significant role in property transactions within Kizhnallathur & Melnallathur. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When selling property, the guideline value helps establish a baseline for negotiations and ensures that both parties are aware of the minimum value set by the authorities. This transparency is crucial for fair transactions and helps prevent disputes during the registration process.

Frequently asked questions

What is the current guideline value of Murali Nagar?

The current guideline value of Murali Nagar is Rs 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 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification of Murali Nagar?

Murali Nagar is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Murali Nagar?

The Sub Registrar Office for Murali Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Murali Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value is Rs 2,00,000, resulting in a stamp duty of Rs 14,000 at 7%.