Guideline Value for Murugan Ambal Nagar

Murugan Ambal Nagar guideline value

The current guideline value of Murugan Ambal Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This village falls under the Kunrathur SRO and is classified as Residential Special Type - III.

How the guideline value of Murugan Ambal Nagar has changed

The guideline value for Murugan Ambal Nagar has seen several revisions over the years. In 2017, the value was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, making the value for Murugan Ambal Nagar above this median.

• Murugan Nagar: Rs 2,090 per sq.ft (2024)
• Muthusamy Avenue Annexe: Rs 2,200 per sq.ft (2024)
• Muthusamy Nagar: Rs 2,090 per sq.ft (2024)
• Mohammed Ali Nagar: Rs 1,760 per sq.ft (2024)
• Narivanam Salai: Rs 2,090 per sq.ft (2024)
• Mettu Street Ist Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Ambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Murugan Ambal Nagar?

The Sub Registrar Office that covers Murugan Ambal 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 Mangadu -A

The guideline value is a crucial factor in property transactions in Mangadu -A, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the registration process.

When selling a property, the seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The guideline value serves as a benchmark for transactions, ensuring transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Murugan Ambal Nagar?

The current guideline value of Murugan Ambal Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations in Murugan Ambal Nagar?

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

What is the significance of the guideline value in property transactions?

The guideline value is essential as it sets the minimum price for property registration and helps determine the applicable stamp duty and registration fees during transactions.