Guideline Value for MURALI NAGAR

Murali Nagar guideline value

The current guideline value of Murali Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Minjur village under the Ponneri SRO and is classified as Residential Special Type - I.

How the guideline value of Murali Nagar has changed

The guideline value for Murali Nagar has seen several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 804 per sq.ft. This figure increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is an increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value in the village is Rs 550 per sq.ft, making Murali Nagar's 2024 figure above that median.

• Murugan Avenue: Rs 550 per sq.ft (2024)
• M.S.Avenue Phase I&ii: Rs 550 per sq.ft (2024)
• M.V.L.Nagar: Rs 880 per sq.ft (2024)
• M.M.Swamy Nagar: Rs 880 per sq.ft (2024)
• Nadu Theru: Rs 550 per sq.ft (2024)
• Minjur New Town: Rs 440 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these charges to Rs 1,18,800. Note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murali Nagar?

The Sub Registrar Office that covers Murali Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Minjur. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate fees are collected. It serves as a benchmark for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Murali Nagar?

The current guideline value of Murali Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, representing an overall increase of 64%.

What is the land classification of Murali Nagar?

Murali Nagar is classified as Residential Special Type - I under the Ponneri SRO.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

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 property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.