Guideline Value for MURUGAN NAGAR

Murugan Nagar guideline value

The current guideline value of Murugan Nagar, located in Thozhuvur village, under the Tiruvallur Joint 1 SRO, is Rs 400 per sq.ft as per the 2023 revision. The land classification for this area is Residential Class II Type - III.

How the guideline value of Murugan Nagar has changed

The guideline value for Murugan Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. However, this figure changed in the 2017 revision to Rs 268 per sq.ft, reflecting a decrease of 33%. In the most recent 2023 revision, the guideline value increased to Rs 400 per sq.ft, marking a significant rise of 49% from the 2017 figure.

Overall, from 2012 to 2023, the guideline value has remained unchanged at Rs 400 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Thozhuvur

Currently, there are no specific village figures provided for Thozhuvur. Murugan Nagar is one of the streets under the Tiruvallur Joint 1 SRO.

Stamp duty and registration fee for property in Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugan Nagar?

The Sub Registrar Office that covers Murugan Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Thozhuvur, the guideline value plays a crucial role in determining the stamp duty and registration fees. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is officially recorded and compliant with local regulations.

It is essential for both buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. This value is regularly updated and reflects the prevailing market conditions as assessed by the Registration Department.

Frequently asked questions

What is the current guideline value of Murugan Nagar?

The current guideline value of Murugan Nagar is Rs 400 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023. This reflects a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017.

What land classification applies to Murugan Nagar?

Murugan Nagar is classified as Residential Class II Type - III, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for a property in Murugan Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Murugan Nagar located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.