Guideline Value for MURUGUR

Murugur guideline value

The current guideline value of Murugur, located in Tiruttani village under the Thiruttani SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - I land classification.

How the guideline value of Murugur has changed

The guideline value for Murugur has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 550 per sq.ft, reflecting a 10% increase from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The jump from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024 indicates significant growth over these years, with a notable 49% rise between 2017 and 2023.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Murugur is below this median.

• Muslim Street: Rs 825 per sq.ft (2024)
• Murugappa Nagar Lane: Rs 550 per sq.ft (2024)
• Murugappa Nagar: Rs 988 per sq.ft (2024)
• M Subramaniam Stret: Rs 825 per sq.ft (2024)
• Nagari Road: Rs 770 per sq.ft (2024)
• Nallakulam Sterrt: Rs 1,099 per sq.ft (2024)

Stamp duty and registration fee for property in Murugur

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugur?

The Sub Registrar Office that covers Murugur is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are necessary steps in the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Murugur?

The current guideline value of Murugur is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Murugur has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking a 64% overall increase.

What is the stamp duty rate for property in Murugur?

The stamp duty rate for property in Murugur is 7%, charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Murugur located?

The Thiruttani Sub Registrar Office, which covers Murugur, is located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.

What is the median guideline value for streets in Tiruttani?

The median guideline value for streets in Tiruttani is Rs 825 per sq.ft, with Murugur's value being below this median.