Guideline Value for Thiru Murugan Nagar Ist Street

Thiru Murugan Nagar Ist Street guideline value

The current guideline value of Thiru Murugan Nagar Ist Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, and the land classification is Mixed Special Type - I.

How the guideline value of Thiru Murugan Nagar Ist Street has changed

The guideline value for Thiru Murugan Nagar Ist Street has seen several revisions over the years. Starting from the earliest record in 2002, the guideline value was Rs 287 per sq.ft. This increased to Rs 600 per sq.ft in 2003, marking a change of +109%. In 2007, the value rose significantly to Rs 1,250 per sq.ft, reflecting an increase of +108%. The next revision in 2012 saw the value at Rs 4,500 per sq.ft, which was a substantial jump of +260% from the previous figure. However, in 2017, the guideline value decreased to Rs 3,015 per sq.ft, indicating a reduction of -33%.

From 2017 to 2023, the guideline value increased to Rs 4,500 per sq.ft, showing a rise of +49%. The most recent revision in 2024 set the value at Rs 4,950 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, placing Thiru Murugan Nagar Ist Street's 2024 figure above this median.

• Thiru Murugan Nagar II nd Street: Rs 4,950 per sq.ft (2024)
• Thirumurugan Nagar IInd Cross Street: Rs 4,950 per sq.ft (2024)
• Thirumurugan Nagar IIIrd Cross Street: Rs 4,950 per sq.ft (2024)
• Thirumurugan Nagar 1st Main Road: Rs 4,950 per sq.ft (2024)
• Thirumurugan Nagar 1st Cross Road: Rs 4,950 per sq.ft (2024)
• Theruveethi amman koil IV th Street: Rs 6,380 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Murugan Nagar Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000. Together, the total fees would amount to Rs 4,45,500. It is important to note that 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 more details.

Which Sub Registrar Office covers Thiru Murugan Nagar Ist Street?

The Sub Registrar Office that covers Thiru Murugan Nagar Ist Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers must be aware that the fees are based on the higher of the guideline value or the actual sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in property dealings. It is essential for both buyers and sellers to understand this value to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Thiru Murugan Nagar Ist Street?

The current guideline value of Thiru Murugan Nagar Ist Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 287 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of +1625% over the years.

What is the land classification for Thiru Murugan Nagar Ist Street?

The land classification for Thiru Murugan Nagar Ist Street is Mixed Special Type - I.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500 based on the current guideline value.

Where is the Sub Registrar Office for Thiru Murugan Nagar Ist Street located?

The Sub Registrar Office for Thiru Murugan Nagar Ist Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.