Guideline Value for Murugan Nagar 9th Street

Murugan Nagar 9th Street guideline value

The current guideline value of Murugan Nagar 9th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Murugan Nagar 9th Street has changed

The guideline value for Murugan Nagar 9th Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, by 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 230%.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. The 2024 revision aligns with the median guideline value of Rs 3,300 per sq.ft for the 879 streets in Kolathur under the Sembiam SRO.

Guideline values in Kolathur

In Kolathur, the guideline values for various streets range from Rs 2,200 to Rs 6,000 per sq.ft, with a median of Rs 3,300 per sq.ft. Murugan Nagar 9th Street's 2024 guideline value matches this median.

• Murugan Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Nagar 9th 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, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for stamp duty and registration fee combined would be 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 details.

Which Sub Registrar Office covers Murugan Nagar 9th Street?

The Sub Registrar Office that covers Murugan Nagar 9th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is an important factor when buying or selling property in Kolathur, as it serves as a benchmark for determining the stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value is used to calculate the applicable fees, and it is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Murugan Nagar 9th Street?

The current guideline value of Murugan Nagar 9th 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, representing an overall increase of 230%.

What are the stamp duty and registration fees for properties 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.

Which office handles property registrations for Murugan Nagar 9th Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011 handles property registrations for Murugan Nagar 9th Street.

How is the guideline value determined for properties in Kolathur?

The guideline value is determined based on various factors and is updated periodically by the Registration Department, reflecting the market conditions and property classifications in the area.