Guideline Value for Sri Murugan Nagar

Sri Murugan Nagar guideline value

The current guideline value of Sri Murugan Nagar is Rs 735 per sq.ft, effective from 1 July 2024. This street is located in Pullilyon village under the Redhills SRO, classified as Mixed Type - II land.

How the guideline value of Sri Murugan Nagar has changed

In the 2017 revision, the guideline value for Sri Murugan Nagar was Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 735 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Sri Murugan Nagar's 2024 figure above that median.

• Sri Ragavendra Nagar: Rs 550 per sq.ft (2024)
• Sri Dhanalakshmi Avenue: Rs 770 per sq.ft (2024)
• Sri Ranga Co-operative Society Nagar: Rs 770 per sq.ft (2024)
• Sri Renga Co-Operative Nagar: Rs 770 per sq.ft (2024)
• Sri Renga Nagar: Rs 770 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 440 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 735 per sq.ft, the total guideline value would be Rs 7,35,000. The stamp duty at 7% would amount to Rs 51,450, and the registration fee at 2% would be Rs 14,700, totaling Rs 66,150. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Murugan Nagar?

Sri Murugan Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pullilyon. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are accurately assessed based on the property's value.

When buying or selling property, the guideline value is used to determine the official value of the property for registration purposes. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Murugan Nagar?

The current guideline value of Sri Murugan Nagar is Rs 735 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Sri Murugan Nagar has increased from Rs 670 per sq.ft in 2017 to Rs 735 per sq.ft in 2024, reflecting a 10% increase. There was no change in the guideline value between 2017 and 2023.

What is the land classification for Sri Murugan Nagar?

Sri Murugan Nagar is classified as Mixed Type - II land. This classification can influence the types of developments allowed in the area.

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

The stamp duty for properties in Sri Murugan Nagar is 7%, while the registration fee is 2%. For example, for a 1,000 sq.ft plot valued at Rs 7,35,000, the total stamp duty and registration fees would amount to Rs 66,150.

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

The Sub Registrar Office covering Sri Murugan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.