Guideline Value for Murugan Nagar 1 to 4 Street

Murugan Nagar 1 to 4 Street guideline value

The current guideline value for Murugan Nagar 1 to 4 Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village and falls under the Konnur SRO, classified as Residential Class I Type - I.

How the guideline value of Murugan Nagar 1 to 4 Street has changed

Over the years, the guideline value of Murugan Nagar 1 to 4 Street has seen several revisions. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and currently, it stands at Rs 5,500 per sq.ft from the 2024 revision.

The changes between these revisions are notable. From 2007 to 2012, there was a remarkable increase of 614%. However, the value dropped by 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, and the latest revision shows a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 686%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing Murugan Nagar 1 to 4 Street above this median.

• Murugan Nagar 1 to 4 Cross Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4th Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4th Street Extension: Rs 5,500 per sq.ft (2024)
• Muthtamil Nagar: Rs 6,000 per sq.ft (2024)
• Mounasami Madam Street: Rs 3,800 per sq.ft (2024)
• Nehru Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Nagar 1 to 4 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Murugan Nagar 1 to 4 Street?

The Sub Registrar Office that covers Murugan Nagar 1 to 4 Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further details.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Konnur, it is essential to be aware of the current guideline value to ensure compliance with registration requirements.

Additionally, the guideline value impacts the calculation of stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers and sellers should consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Murugan Nagar 1 to 4 Street?

The current guideline value of Murugan Nagar 1 to 4 Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 686% over the years.

What is the median guideline value for streets in Konnur?

The median guideline value for streets in Konnur is Rs 3,800 per sq.ft, with Murugan Nagar 1 to 4 Street's value being above this median.

What are the stamp duty and registration fees for a property in Murugan Nagar 1 to 4 Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Murugan Nagar 1 to 4 Street located?

The Sub Registrar Office for Murugan Nagar 1 to 4 Street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.