Guideline Value for Murugesan Nagar

Murugesan Nagar guideline value

The current guideline value of Murugesan Nagar is Rs 850 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Murugesan Nagar has changed

Over the years, the guideline value of Murugesan Nagar has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, this was followed by a decrease to Rs 536 per sq.ft in 2017. The value then rose to Rs 800 per sq.ft in 2023 and further increased to Rs 850 per sq.ft in 2024, reflecting a change of +6% from the previous year. Overall, from 2007 to 2024, the guideline value has increased by +183%.

There are no figures available for the revisions in 2002 and 2003 for this street. The 2017 to 2023 increase of +49% and the 2012 to 2017 decrease of -33% are notable changes during these periods.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Murugesan Nagar's 2024 figure below that median.

• Murugesan Street: Rs 850 per sq.ft (2024)
• Muthalamman Koil Street: Rs 2,900 per sq.ft (2024)
• Muthamil Street: Rs 1,100 per sq.ft (2024)
• Muthulinga Mudali Street: Rs 1,300 per sq.ft (2024)
• Munisundaram Street: Rs 1,100 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, making the total cost for these fees Rs 76,500. Note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugesan Nagar?

The Sub Registrar Office that covers Murugesan Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps in calculating the total costs involved in the transaction. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Murugesan Nagar?

The current guideline value of Murugesan Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, reflecting an overall increase of +183% over this period.

What are the other streets in Selaiyur with their guideline values?

Other streets in Selaiyur include Murugesan Street at Rs 850 per sq.ft, Muthalamman Koil Street at Rs 2,900 per sq.ft, and Muthamil Street at Rs 1,100 per sq.ft, among others.

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

For a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 and the registration fee would be Rs 17,000, totaling Rs 76,500.

Where can I find the Sub Registrar Office for Murugesan Nagar?

The Sub Registrar Office for Murugesan Nagar is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.