Guideline Value for Murugan Koil Street

Murugan Koil Street guideline value

The current guideline value of Murugan Koil Street is Rs 210 per sq.ft, effective from 1 July 2024. This street is located in Nemili village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Murugan Koil Street has changed

The guideline value for Murugan Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which was then reduced to Rs 134 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 200 per sq.ft, and the latest revision in 2024 raised it to Rs 210 per sq.ft, marking a 5% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 5%.

Guideline values in Nemili

Within Nemili, there are 66 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 1,000 per sq.ft. The median value for these streets is Rs 250 per sq.ft, indicating that Murugan Koil Street's 2024 figure is below this median.

• Nadu Street: Rs 210 per sq.ft (2024)
• Mookambigai Nagar: Rs 250 per sq.ft (2024)
• Nehru Nagar: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 210 per sq.ft (2024)
• Nehru Street: Rs 250 per sq.ft (2024)
• Nemili Park: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 210 per sq.ft, the guideline value would be Rs 2,10,000. The stamp duty at 7% would amount to Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total to Rs 18,900. It is important to note that the 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 Koil Street?

The Sub Registrar Office that covers Murugan Koil Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nemili. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is used to determine the applicable taxes and fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Murugan Koil Street?

The current guideline value of Murugan Koil Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and finally to Rs 210 per sq.ft in 2024.

What is the median guideline value in Nemili?

The median guideline value for streets in Nemili is Rs 250 per sq.ft, with Murugan Koil Street's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in Murugan Koil Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 210 per sq.ft, the total fees would amount to Rs 18,900.

Where can I find the Sub Registrar Office for Murugan Koil Street?

The Sub Registrar Office for Murugan Koil Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.