Guideline Value for JAI MARUTHI AVENUE/NAGAR/ALL PHASES

Jai Maruthi Avenue/Nagar/All Phases guideline value

The current guideline value for Jai Maruthi Avenue/Nagar/All Phases is Rs 330 per sq.ft, effective from 1 July 2024. This property is located in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Jai Maruthi Avenue/Nagar/All Phases has changed

The guideline value for Jai Maruthi Avenue/Nagar/All Phases has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 300 per sq.ft in the 2023 revision, and then to Rs 330 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is equal to the current guideline value for Jai Maruthi Avenue/Nagar/All Phases.

• Jayalakshmi Nagar: Rs 330 per sq.ft (2024)
• Happy Town: Rs 275 per sq.ft (2024)
• Gowtham Nagar: Rs 770 per sq.ft (2024)
• Golden Nagar: Rs 330 per sq.ft (2024)
• Gms Nagar: Rs 330 per sq.ft (2024)
• Gayathri Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Maruthi Avenue/Nagar/All Phases

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jai Maruthi Avenue/Nagar/All Phases?

The Jai Maruthi Avenue/Nagar/All Phases falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process for properties in Nanthiambakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of property transactions.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It ensures that the transaction is recorded accurately in the official registry, reflecting the current market conditions as per the government’s valuation.

Frequently asked questions

What is the current guideline value for Jai Maruthi Avenue/Nagar/All Phases?

The current guideline value for Jai Maruthi Avenue/Nagar/All Phases is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification for Jai Maruthi Avenue/Nagar/All Phases?

The land classification for Jai Maruthi Avenue/Nagar/All Phases is Residential Special Type - II.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Jai Maruthi Avenue/Nagar/All Phases?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100.