Guideline Value for MURASOLI SINGARAM NAGAR

Murasoli Singaram Nagar guideline value

The current guideline value of Murasoli Singaram Nagar is Rs 710 per sq.ft, effective from 1 July 2024. This area is located in Sholavaram village, under the Redhills SRO, and is classified as Residential Special Type - III.

How the guideline value of Murasoli Singaram Nagar has changed

Since the 2017 revision, the guideline value for Murasoli Singaram Nagar has remained unchanged at Rs 710 per sq.ft through the 2023 and 2024 revisions. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2024 revision, there has been a 0% change in the guideline value. Similarly, there was no change from 2023 to 2024, and the overall change from 2017 to 2024 is also 0%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. Murasoli Singaram Nagar's guideline value of Rs 710 per sq.ft is above this median.

• Moogambigai Nagar Annex-1: Rs 1,165 per sq.ft (2024)
• Moogambigai Nagar Annex: Rs 1,005 per sq.ft (2024)
• Nehru Street: Rs 1,320 per sq.ft (2024)
• New Diamond City: Rs 550 per sq.ft (2024)
• New Star City Diamond: Rs 770 per sq.ft (2024)
• New Sun City: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Murasoli Singaram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 710 per sq.ft, the guideline value amounts to Rs 7,10,000. The stamp duty at 7% would be Rs 49,700, and the registration fee at 2% would be Rs 14,200, totaling Rs 63,900. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Murasoli Singaram Nagar?

The Sub Registrar Office that covers Murasoli Singaram Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Murasoli Singaram Nagar?

The current guideline value of Murasoli Singaram Nagar is Rs 710 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Murasoli Singaram Nagar has remained at Rs 710 per sq.ft since the 2017 revision, with no changes noted in the 2023 and 2024 revisions.

What is the land classification of Murasoli Singaram Nagar?

Murasoli Singaram Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 7,10,000, the stamp duty would be Rs 49,700 and the registration fee would be Rs 14,200, totaling Rs 63,900.

Which Sub Registrar Office handles registrations for this area?

The Redhills Sub Registrar Office handles registrations for Murasoli Singaram Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.