Guideline Value for SRI MURUGAN NAGAR

Sri Murugan Nagar guideline value

The current guideline value of Sri Murugan Nagar, located in Jelandianpettai village under the Chennai South Joint I SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Murugan Nagar has changed

The guideline value for Sri Murugan Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 633%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Sri Murugan Nagar.

• Srinarayanan Street: Rs 2,200 per sq.ft (2024)
• Subramani Nagar: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 4th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Murugan Nagar?

Sri Murugan Nagar falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Jelandianpettai. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value for Sri Murugan Nagar?

The current guideline value for Sri Murugan Nagar is Rs 2,200 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 2,200 per sq.ft in 2024, representing an overall increase of 633% across the revisions.

What are the other streets in Jelandianpettai with similar guideline values?

Other streets in Jelandianpettai with similar guideline values include Srinarayanan Street at Rs 2,200 per sq.ft and several streets in Subramani Nagar at Rs 2,750 per sq.ft.

What fees are associated with property transactions in Sri Murugan Nagar?

Fees associated with property transactions include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Murugan Nagar?

The Sub Registrar Office covering Sri Murugan Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.