Guideline Value for MURUGESAN NAGAR

Murugesan Nagar guideline value

The current guideline value of Murugesan Nagar is Rs 400 per sq.ft. This area is located in Kayar village, under the Thiruporur SRO, and is classified as Residential Special Type - I.

How the guideline value of Murugesan Nagar has changed

The guideline value for Murugesan Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 250 per sq.ft. This figure decreased to Rs 167 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2023 revision, the guideline value increased significantly to Rs 400 per sq.ft, representing a 140% increase from the 2017 figure. Overall, from 2012 to 2023, the guideline value has increased by 60%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street. Thus, the changes highlighted are only between the years where data is available.

Guideline values in Kayar

Currently, there are no specific village figures available for Kayar. Murugesan Nagar is one of the streets under the Thiruporur SRO. The following are the other streets in Kayar:

Stamp duty and registration fee for property in Murugesan Nagar

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

Which Sub Registrar Office covers Murugesan Nagar?

The Sub Registrar Office that covers Murugesan Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Kayar, as it determines the stamp duty and registration fees payable at the time of registration. Buyers must ensure that they are aware of the current guideline value to accurately calculate the costs associated with property transactions.

When a property is registered, the guideline value is used to establish the minimum value for taxation purposes. This means that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Murugesan Nagar?

The current guideline value of Murugesan 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 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, and then increased to Rs 400 per sq.ft in 2023. This represents a 60% increase from 2012 to 2023.

What is the land classification of Murugesan Nagar?

Murugesan Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated for properties in Murugesan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 36,000.