Guideline Value for Murudev Nagar

Murudev Nagar guideline value

The current guideline value of Murudev Nagar, located in Sundaracholavaram village under the Kunrathur SRO, is Rs 660 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - III land classification.

How the guideline value of Murudev Nagar has changed

Starting from the 2007 revision, the guideline value was Rs 250 per sq.ft. It then increased significantly to Rs 600 per sq.ft in 2012, representing a 140% increase. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, marking a decline of 33%. The value rose again to Rs 600 per sq.ft in 2023, which was a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 164%.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which is equal to the current guideline value for Murudev Nagar.

• M.R. Nagar & Extension: Rs 550 per sq.ft (2024)
• Mariyamman Koil Street: Rs 660 per sq.ft (2024)
• Ondi Kudisai Street: Rs 660 per sq.ft (2024)
• kiramani Main&cross Street: Rs 660 per sq.ft (2024)
• Prakalya Nagar: Rs 1,065 per sq.ft (2024)
• Pumproom street Left&Right: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Murudev Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total charges to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murudev Nagar?

The Sub Registrar Office that covers Murudev Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sundaracholavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, thereby helping to maintain transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to accurately calculate the associated costs.

Frequently asked questions

What is the current guideline value of Murudev Nagar?

The current guideline value of Murudev Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 164% over the years.

What is the land classification for Murudev Nagar?

Murudev Nagar falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations in Murudev Nagar?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles property registrations for Murudev Nagar.