Guideline Value for Murugan Nagar

Murugan Nagar guideline value

The current guideline value of Murugan Nagar, located in Kunrathour-A village under the Kunrathur SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - III.

How the guideline value of Murugan Nagar has changed

The guideline value for Murugan Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,072 per sq.ft. This increased to Rs 1,600 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-A

In Kunrathour-A, there are 45 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,210 to Rs 5,123 per sq.ft. The median value for these streets is Rs 1,760 per sq.ft, which is the same as the current value for Murugan Nagar.

• Metro Grand City Extension: Rs 5,123 per sq.ft (2024)
• Kathiravan Avenue & Annex: Rs 1,430 per sq.ft (2024)
• Jaganathapuram Sekkizhar Nagar 3rd Street: Rs 1,430 per sq.ft (2024)
• Jaganathapuram Sekkizhar Nagar 1st Street: Rs 1,430 per sq.ft (2024)
• Jaganathapuram Main Road: Rs 1,430 per sq.ft (2024)
• Soundari Garden: Rs 1,540 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 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total fees together Rs 1,58,400. 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 information on fees applicable to your property transaction.

Which Sub Registrar Office covers Murugan Nagar?

The Sub Registrar Office that covers Murugan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kunrathour-A

The guideline value plays a crucial role in property transactions in Kunrathour-A. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to check the latest guideline value to ensure compliance with the registration requirements. This ensures that all parties involved are aware of the financial obligations tied to the property transaction.

Frequently asked questions

What is the current guideline value of Murugan Nagar?

The current guideline value of Murugan Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,072 per sq.ft in 2017 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 17,60,000. The stamp duty at 7% is Rs 1,23,200, and the registration fee at 2% is Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office covers Murugan Nagar?

The Kunrathur Sub Registrar Office covers Murugan Nagar and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Murugan Nagar?

The land classification for Murugan Nagar is Mixed Special Type - III, which is important for understanding the usage and development potential of the area.