Guideline Value for Murugan Nagar

Murugan Nagar guideline value

The current guideline value of Murugan Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Vallam_B village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Murugan Nagar has changed

The guideline value for Murugan Nagar has remained consistent over the last two revisions. In the 2023 revision, the guideline value was Rs 400 per sq.ft, and it has not changed in the 2024 revision, which also lists it as Rs 400 per sq.ft, reflecting a change of +0%.

Prior to the 2023 revision, the register has no figures for this street for the years 2017, 2012, 2007, 2003, and 2002. Therefore, the guideline value has been stable at Rs 400 per sq.ft since the 2023 revision.

Guideline values in Vallam_B

In Vallam_B, there are 73 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, making Murugan Nagar's 2024 figure equal to this median.

• Muthamil Nagar: Rs 200 per sq.ft (2024)
• Nadu Street: Rs 200 per sq.ft (2024)
• Molakkalamman Koil Street: Rs 400 per sq.ft (2024)
• National Highway Road: Rs 600 per sq.ft (2024)
• Mettu Street: Rs 400 per sq.ft (2024)
• Mariyamman Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Murugan Nagar?

The Sub Registrar Office that covers Murugan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vallam_B, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with the registration process. The fees associated with the transaction are based on this value, making it an important consideration in property dealings.

Frequently asked questions

What is the current guideline value of Murugan Nagar?

The current guideline value of Murugan Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Murugan Nagar has remained at Rs 400 per sq.ft since the 2023 revision, with no changes noted from previous years, as the register has no figures for 2017, 2012, 2007, 2003, and 2002.

What are the stamp duty and registration fees for property in Murugan Nagar?

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000, and the registration fee is Rs 8,000, totaling Rs 36,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Murugan Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Murugan Nagar. It is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it establishes the minimum price for property registration and is used to calculate the associated stamp duty and registration fees. Understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during property transactions.