Guideline Value for Thiru Murugan Nagar

Thiru Murugan Nagar guideline value

The current guideline value of Thiru Murugan Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Orathur village and falls under the Gooduvancheri SRO, classified as Residential Special Type - I.

How the guideline value of Thiru Murugan Nagar has changed

Thiru Murugan Nagar has seen several revisions in its guideline value over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision marked a decrease to Rs 268 per sq.ft, followed by a return to Rs 400 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023 and no change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 400 per sq.ft. The fluctuations in the values reflect changes in the local real estate landscape, with significant increases noted between specific revisions.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Thiru Murugan Nagar's 2024 figure below this median.

• Subash Nagar: Rs 505 per sq.ft (2024)
• Sri Vigneshwara Nagar Extn: Rs 400 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 400 per sq.ft (2024)
• Veerabathira Nagar: Rs 500 per sq.ft (2024)
• Veeravanchi Nagar: Rs 505 per sq.ft (2024)
• Sri Thanga Ganesh Nagar: Rs 402 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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 Thiru Murugan Nagar?

The Thiru Murugan Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Orathur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value helps to establish the minimum value for which the property can be registered. This process aids in maintaining transparency and accountability in real estate transactions, ensuring that all parties are aware of the costs involved.

Frequently asked questions

What is the current guideline value of Thiru Murugan Nagar?

The current guideline value of Thiru Murugan Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in both 2023 and 2024. The overall change from 2012 to 2024 shows no increase.

What are the guideline values of other streets in Orathur?

Other streets in Orathur have varying guideline values, ranging from Rs 335 to Rs 1,700 per sq.ft. For example, Subash Nagar has a guideline value of Rs 505 per sq.ft in 2024.

How is the stamp duty calculated in Thiru Murugan Nagar?

Stamp duty in Thiru Murugan Nagar is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000 at 7%.

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

The Gooduvancheri Sub Registrar Office covers Thiru Murugan Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.