Guideline Value for Murugan Nagar 3rd Street

Murugan Nagar 3rd Street guideline value

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

The guideline value for Murugan Nagar 3rd Street 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 3,000 per sq.ft in 2012, marking a 200% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that the guideline register does not have 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 3rd Street.

• Murugan Nagar 2nd 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)
• Murugan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Nagar 3rd 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Murugan Nagar 3rd Street?

The Sub Registrar Office that covers Murugan Nagar 3rd 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 crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and to calculate the associated costs accurately.

Frequently asked questions

What is the current guideline value of Murugan Nagar 3rd Street?

The current guideline value of Murugan Nagar 3rd 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 from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the registration office for Murugan Nagar 3rd Street?

The registration office for Murugan Nagar 3rd 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 Murugan Nagar 3rd Street?

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 is the land classification for Murugan Nagar 3rd Street?

The land classification for Murugan Nagar 3rd Street is Residential Class I Type - I.