Guideline Value for FATHIMA NAGAR - Marutham street

FATHIMA NAGAR - Marutham street guideline value

The current guideline value of FATHIMA NAGAR - Marutham street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of FATHIMA NAGAR - Marutham street has changed

The guideline value for FATHIMA NAGAR - Marutham street has undergone several revisions over the years. The earliest recorded value was Rs 524 per sq.ft in 2002, which increased to Rs 650 per sq.ft in 2003. In 2007, the value remained at Rs 650 per sq.ft, but it surged to Rs 4,000 per sq.ft in 2012, marking an increase of 515%. However, the value dropped to Rs 2,680 per sq.ft in 2017, a decline of 33%. The most recent revision in 2024 saw the guideline value rise significantly to Rs 4,400 per sq.ft, representing a 64% increase from the 2017 figure.

There is no figure available for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 740%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, and FATHIMA NAGAR - Marutham street's 2024 figure is above this median.

• FATHIMA NAGAR - Kurunji Street: Rs 4,400 per sq.ft (2024)
• FATHIMA NAGAR - Mullai Nagar: Rs 4,400 per sq.ft (2024)
• FATHIMA NAGAR - Neithal Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in FATHIMA NAGAR - Marutham street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 information.

Which Sub Registrar Office covers FATHIMA NAGAR - Marutham street?

The FATHIMA NAGAR - Marutham street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on either the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the authorities. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of FATHIMA NAGAR - Marutham street?

The current guideline value of FATHIMA NAGAR - Marutham street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 524 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 740% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers FATHIMA NAGAR - Marutham street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Valasaravakkam?

The median guideline value in Valasaravakkam is Rs 3,850 per sq.ft, and the guideline value for FATHIMA NAGAR - Marutham street is above this median at Rs 4,400 per sq.ft.