Guideline Value for MURUGAN KOIL STREET

Murugan Koil Street guideline value

The current guideline value of Murugan Koil Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Murugan Koil Street has changed

The guideline value for Murugan Koil Street has undergone several revisions over the years. In 2003, the value was Rs 37 per sq.ft, which increased to Rs 50 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 300 per sq.ft, but it then decreased to Rs 201 per sq.ft in 2017. The 2023 revision set the value at Rs 300 per sq.ft, and the latest revision in 2024 has increased it to Rs 330 per sq.ft.

From 2003 to 2024, the overall change in guideline value is +792%. The changes between the revisions include a +35% increase from 2003 to 2007, a +500% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, and a +49% increase from 2017 to 2023. The change from 2023 to 2024 is +10%. The register has no figure for this street in 2002.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which is equal to the guideline value of Murugan Koil Street.

• Nadhiya Nagar: Rs 330 per sq.ft (2024)
• M.J.Muthusubramani Nagar: Rs 627 per sq.ft (2024)
• M .G. R Nagar: Rs 330 per sq.ft (2024)
• Navaneetham Nagar: Rs 330 per sq.ft (2024)
• M.C. Nagar: Rs 385 per sq.ft (2024)
• Nethaji Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total charges to Rs 29,700. It is important to note that 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 details.

Which Sub Registrar Office covers Murugan Koil Street?

The Sub Registrar Office that covers Murugan Koil Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanthiambakkam. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Murugan Koil Street?

The current guideline value of Murugan Koil Street is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 37 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of +792% over this period.

What is the land classification for Murugan Koil Street?

Murugan Koil Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Murugan Koil Street?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Where is the Sub Registrar Office located for Murugan Koil Street?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.