Guideline Value for Murugesan Nagar

Murugesan Nagar guideline value

The current guideline value of Murugesan Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Agaram Male village and falls under the Poonamallee SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Murugesan Nagar has changed

The guideline value for Murugesan Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 770 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 recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Agaram Male

Agaram Male village has 21 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,800 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is equal to the current guideline value for Murugesan Nagar.

• M.G.M Nagar: Rs 770 per sq.ft (2024)
• M.G.A Avenue: Rs 770 per sq.ft (2024)
• Pachaivarana Perumal Koil Street: Rs 550 per sq.ft (2024)
• Lakshmi Nagar: Rs 770 per sq.ft (2024)
• Pushpha Nagar: Rs 770 per sq.ft (2024)
• Sannathi Street: Rs 550 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total charges Rs 69,300. It is important to note that 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 details.

Which Sub Registrar Office covers Murugesan Nagar?

The Sub Registrar Office that covers Murugesan Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Agaram Male. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the official value of the property for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Murugesan Nagar?

The current guideline value of Murugesan Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification for Murugesan Nagar?

The land classification for Murugesan Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for Murugesan Nagar?

The Poonamallee Sub Registrar Office handles property registrations for Murugesan Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.