Guideline Value for Murugan Nagar 10th Street

Murugan Nagar 10th Street guideline value

The current guideline value of Murugan Nagar 10th Street is Rs 3,300 per sq.ft. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Murugan Nagar 10th Street has changed

The guideline value for Murugan Nagar 10th Street has seen several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, with the latest revision in 2024 setting it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Between the revisions, the changes are as follows: from 2007 to 2012, there was a 200% increase; from 2012 to 2017, the value decreased by 33%; from 2017 to 2023, there was a 49% increase; and finally, from 2023 to 2024, the increase was 10%. Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Murugan Nagar 10th Street.

• Murugan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total amount to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Murugan Nagar 10th Street?

The Sub Registrar Office that covers Murugan Nagar 10th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When you register a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Murugan Nagar 10th Street?

The current guideline value of Murugan Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% since 2007.

What is the registration office for Murugan Nagar 10th Street?

The registration office for Murugan Nagar 10th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

What land classification does Murugan Nagar 10th Street fall under?

Murugan Nagar 10th Street is classified as Residential Class I Type - I, which is a designation for residential properties in the area.