Guideline Value for MARUDAM NAGAR

Marudam Nagar guideline value

The current guideline value of Marudam Nagar, located in Vilingiyambakkam village under the Avadi SRO, is Rs 935 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Marudam Nagar has changed

Over the years, the guideline value of Marudam Nagar has seen several revisions. The 2012 revision set the value at Rs 850 per sq.ft, which was then revised to Rs 569 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 850 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 935 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median value is Rs 935 per sq.ft, which is equal to the guideline value of Marudam Nagar.

• Malligai St: Rs 935 per sq.ft (2024)
• Mettu Street: Rs 800 per sq.ft (2024)
• Mahizakpoo St: Rs 935 per sq.ft (2024)
• M.G.R.St: Rs 1,625 per sq.ft (2024)
• Logambal St: Rs 810 per sq.ft (2024)
• Moses 1st Cross St: Rs 1,310 per sq.ft (2024)

Stamp duty and registration fee for property in Marudam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 935 per sq.ft, the guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, totaling Rs 84,150. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marudam Nagar?

The Sub Registrar Office that covers Marudam Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vilingiyambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is legally compliant.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government collects appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Marudam Nagar?

The current guideline value of Marudam Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification for Marudam Nagar?

The land classification for Marudam Nagar is Residential Class II Type - II.

Where can I find the registration office for Marudam Nagar?

The registration office for Marudam Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Marudam Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 9,35,000 would incur a stamp duty of Rs 65,450.