Guideline Value for Sri Murugan City

Sri Murugan City guideline value

The current guideline value of Sri Murugan City, located in Maakaanyam village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Murugan City has changed

Over the years, the guideline value for Sri Murugan City has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision where it dropped to Rs 201 per sq.ft. Following that, the value increased significantly by 49% to Rs 300 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 300 per sq.ft.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO with a guideline value range for 2024 from Rs 100 to Rs 600 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Sri Murugan City's 2024 figure above this median.

• Sri Nagar: Rs 200 per sq.ft (2024)
• Sri Padmanaba Samy Nagar: Rs 600 per sq.ft (2024)
• Sri Premkavaradhan Nagar: Rs 300 per sq.ft (2024)
• Sri Kalyana Srinivasaperumal koil street: Rs 400 per sq.ft (2024)
• Sri Hari balaji nagar: Rs 300 per sq.ft (2024)
• Sri city: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Murugan City

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total charges to Rs 27,000. It is important to 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 further assistance.

Which Sub Registrar Office covers Sri Murugan City?

The Sub Registrar Office that covers Sri Murugan City is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Maakaanyam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these charges reflect the property's worth as per government assessments.

When buying or selling property, the guideline value is used to establish a baseline for the transaction. It is essential for both buyers and sellers to be aware of this value to understand the financial implications during the registration process.

Frequently asked questions

What is the current guideline value of Sri Murugan City?

The current guideline value of Sri Murugan City is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a drop to Rs 201 per sq.ft in 2017. There was a significant increase of 49% from 2017 to 2023, but it did not change from 2023 to 2024.

What is the land classification of Sri Murugan City?

Sri Murugan City is classified as Residential Special Type - I. This classification affects the guideline value and property usage in the area.

What are the stamp duty and registration fees for properties in Sri Murugan City?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Murugan City located?

The Sub Registrar Office for Sri Murugan City is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.