Guideline Value for Murugan Nagar

Murugan Nagar guideline value

The current guideline value of Murugan Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This village falls under the Kunrathur SRO and is classified as Residential Special Type - II.

How the guideline value of Murugan Nagar has changed

In the 2017 revision, the guideline value was Rs 1,273 per sq.ft. This figure increased to Rs 1,900 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has set the guideline value at Rs 2,090 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Murugan Nagar's 2024 figure above that median.

• Murugan Ambal Nagar: Rs 1,980 per sq.ft (2024)
• Muthusamy Avenue Annexe: Rs 2,200 per sq.ft (2024)
• Muthusamy Nagar: Rs 2,090 per sq.ft (2024)
• Mohammed Ali Nagar: Rs 1,760 per sq.ft (2024)
• Narivanam Salai: Rs 2,090 per sq.ft (2024)
• Mettu Street Ist Street: Rs 1,980 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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 information.

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

The guideline value is a crucial factor during property registration in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps in calculating the applicable charges, ensuring that the transaction is recorded accurately and legally. This value is essential for both parties to understand the financial implications of the property transaction.

Frequently asked questions

What is the current guideline value of Murugan Nagar?

The current guideline value of Murugan Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,273 per sq.ft in 2017 to Rs 1,900 per sq.ft in 2023, and then to Rs 2,090 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Murugan Nagar?

Murugan Nagar is classified as Residential Special Type - II. This classification indicates the type of development and usage permitted in the area.

Where can I find the registration office for Murugan Nagar?

The registration office for Murugan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Murugan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 20,90,000, the stamp duty would be calculated at 7% of that amount.