Guideline Value for MURUGAN SYNDICATE

Murugan Syndicate guideline value

The current guideline value of Murugan Syndicate, located in Kolathur village, is Rs 600 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Special Type - I land classification. The property is registered with the Chengleput Joint II SRO.

How the guideline value of Murugan Syndicate has changed

Over the years, the guideline value for Murugan Syndicate has seen several revisions. Starting with the 2007 revision, the value was Rs 60 per sq.ft. This increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a remarkable rise of 900%. However, the 2017 revision saw a decrease to Rs 402 per sq.ft, which was a decline of 33%. The value then rose again to Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

The register has no figures for the years 2002 and 2003. From the 2017 revision of Rs 402 per sq.ft to the 2023 revision, there was an increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 900%.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with the median value at Rs 600 per sq.ft. The guideline value for Murugan Syndicate aligns with this median.

• Mountain View Avenue: Rs 600 per sq.ft (2024)
• Mahathma Gandhi Nagar: Rs 600 per sq.ft (2024)
• Palace Estate City Phase-II: Rs 600 per sq.ft (2024)
• Palace Estate City -V: Rs 600 per sq.ft (2024)
• Maha Nagar: Rs 600 per sq.ft (2024)
• Madura Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Syndicate

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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 Syndicate?

The Sub Registrar Office that covers Murugan Syndicate is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value to ensure compliance with legal requirements. The registration process will require the payment of stamp duty based on the guideline value or the sale price, whichever is higher, making it essential for buyers and sellers to be aware of the current values.

Frequently asked questions

What is the current guideline value of Murugan Syndicate?

The current guideline value of Murugan Syndicate is Rs 600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and returned to Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification for Murugan Syndicate?

Murugan Syndicate falls under the Residential Special Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Murugan Syndicate?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can also find more information on how to locate your SRO.

How is stamp duty calculated for properties in Murugan Syndicate?

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 600 per sq.ft, the stamp duty would be Rs 42,000 at a rate of 7%.