Guideline Value for SRI MURUGAN NAGAR

Sri Murugan Nagar guideline value

The current guideline value for Sri Murugan Nagar, located in Kobarasanallur village under the Kunrathur SRO, is Rs 3,285 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Sri Murugan Nagar has changed

The guideline value for Sri Murugan Nagar has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 2,000 per sq.ft. This increased significantly to Rs 2,986 per sq.ft in the 2023 revision, marking a change of 49%. The latest revision in 2024 saw another increase to Rs 3,285 per sq.ft, which is a rise of 10% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kobarasanallur

In Kobarasanallur, there are 28 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing the guideline value of Sri Murugan Nagar above this median.

• Sri Mookambikai Nagar: Rs 2,750 per sq.ft (2024)
• Sri Nagalakshmi Nagar: Rs 1,980 per sq.ft (2024)
• Sri Moogambigai Nagar Extn: Rs 2,750 per sq.ft (2024)
• Sri Neminath Nagar: Rs 1,650 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,980 per sq.ft (2024)
• Sree Hari Nagar: 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 3,285 per sq.ft, the total guideline value would be Rs 32,85,000. The stamp duty at 7% would amount to Rs 2,29,950, and the registration fee at 2% would be Rs 65,700, bringing the total to Rs 2,95,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kobarasanallur, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is taken into account for determining the applicable duties and fees. This ensures that all property transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value for Sri Murugan Nagar?

The current guideline value for Sri Murugan Nagar is Rs 3,285 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2017 to Rs 2,986 per sq.ft in 2023, and then to Rs 3,285 per sq.ft in 2024. Overall, this represents a 64% increase from 2017 to 2024.

What is the land classification for Sri Murugan Nagar?

Sri Murugan Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

Where can I find the registration office for Sri Murugan Nagar?

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

How is the stamp duty calculated for properties in Sri Murugan Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable, which is based on the same value.