Guideline Value for Jai Maruthi Nagar

Jai Maruthi Nagar guideline value

The current guideline value of Jai Maruthi Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Jai Maruthi Nagar has changed

The guideline value of Jai Maruthi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 54 per sq.ft. This figure rose to Rs 178 per sq.ft in 2003, marking an increase of 230%. By 2007, the value further increased to Rs 300 per sq.ft, reflecting a 69% rise. The 2012 revision saw the value jump to Rs 1,900 per sq.ft, which was a staggering increase of 533% from the previous revision. However, in 2017, the value decreased to Rs 1,273 per sq.ft, a decline of 33%. The guideline value then rose again to Rs 1,900 per sq.ft in 2023, before reaching the current figure of Rs 2,000 per sq.ft in 2024, representing a 5% increase.

Overall, from 2002 to 2024, the guideline value has increased by 3604%. There are no figures available for revisions in years other than those mentioned.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value of Jai Maruthi Nagar is above this median.

• Jai Maruthi Nagar Annex: Rs 2,700 per sq.ft (2024)
• INTUC now Gomathiamman Nagar: Rs 1,742 per sq.ft (2024)
• I.N.T.U.C. Nagar: Rs 1,100 per sq.ft (2024)
• Jayavel Nagar: Rs 1,300 per sq.ft (2024)
• John Victor Street: Rs 1,100 per sq.ft (2024)
• J.P. Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Maruthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jai Maruthi Nagar?

The Sub Registrar Office that covers Jai Maruthi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kathirvedu. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is registered at a value that reflects its worth in the market.

When registering a property, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Jai Maruthi Nagar?

The current guideline value of Jai Maruthi Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 54 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2024, representing an overall increase of 3604%.

What are the stamp duty and registration fees for properties in Jai Maruthi Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,80,000.

Which office handles property registrations in Jai Maruthi Nagar?

The Ambattur Sub Registrar Office handles property registrations for Jai Maruthi Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value determined for properties in Kathirvedu?

The guideline value for properties in Kathirvedu is determined based on various factors, including land classification and recent revisions in the guideline value register maintained by the Registration Department.