Guideline Value for Murugan Nagar 1 to 4th Street Extension

Murugan Nagar 1 to 4th Street Extension guideline value

The current guideline value for Murugan Nagar 1 to 4th Street Extension is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Konnur village and falls under the Konnur SRO with a land classification of Residential Class I Type - I.

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

The guideline value for Murugan Nagar 1 to 4th Street Extension has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this value decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision brought the value up to Rs 5,000 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. The changes between the revisions include a 400% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Konnur

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

• Murugan Nagar 1 to 4th Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4 Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4 Cross Street: 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 4th Street Extension

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 fees to Rs 4,95,000. 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 details on fees applicable to your property.

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

The Sub Registrar Office that covers Murugan Nagar 1 to 4th Street Extension is the Konnur Sub Registrar Office. The address is Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Konnur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The authorities will charge the stamp duty based on the higher of the guideline value or the sale price, ensuring that the correct fees are collected.

Frequently asked questions

What is the current guideline value for Murugan Nagar 1 to 4th Street Extension?

The current guideline value for Murugan Nagar 1 to 4th Street Extension 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 from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 450% over the years.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which office handles property registrations in Konnur?

The Konnur Sub Registrar Office handles property registrations in Konnur. It is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

Where can I find more information about the guideline values in Konnur?

For more information about the guideline values in Konnur, you can refer to the Registration Department's guideline value register available online.