Guideline Value for SRI MURALI NAGAR

Sri Murali Nagar guideline value

The current guideline value of Sri Murali Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Murali Nagar has changed

In the 2017 revision, the guideline value was Rs 536 per sq.ft. This value increased to Rs 800 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 saw the guideline value rise to Rs 880 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, making the guideline value of Sri Murali Nagar above that median.

• Srinivasa Nagar: Rs 550 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 550 per sq.ft (2024)
• Sri Kamala Nagar: Rs 550 per sq.ft (2024)
• Sri Janakirathina Nagar: Rs 880 per sq.ft (2024)
• Sri Haya Greevar Nagar: Rs 550 per sq.ft (2024)
• Sri Devi Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Murali Nagar

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Murali Nagar?

The Sub Registrar Office covering Sri Murali Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Minjur, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must be aware that the duty is charged on the higher of the guideline value and the sale price.

When a property is sold, the guideline value serves as a benchmark for calculating various fees and taxes, ensuring that the transaction is recorded accurately in the official register. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Sri Murali Nagar?

The current guideline value of Sri Murali Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, which is a total increase of 64%.

What are the stamp duty rates for properties in Sri Murali Nagar?

The stamp duty for properties in Sri Murali Nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration in Sri Murali Nagar?

The Ponneri Sub Registrar Office is responsible for property registration in Sri Murali Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the median guideline value for streets in Minjur?

The median guideline value for streets in Minjur is Rs 550 per sq.ft, with Sri Murali Nagar's value being above this median at Rs 880 per sq.ft.