Guideline Value for MARUDHAM NAGAR EXTENSION

Marudham Nagar Extension guideline value

The current guideline value of Marudham Nagar Extension is Rs 101 per sq.ft. This area is located in Kilakadi village, under the Salavakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Marudham Nagar Extension has changed

Looking at the revisions, the guideline value for Marudham Nagar Extension was Rs 100 per sq.ft in 2023, which increased to Rs 101 per sq.ft in 2024, reflecting a 1% increase. Prior to that, in 2017, the value was Rs 67 per sq.ft, indicating a significant increase of 49% over the six-year period leading up to 2023. The 2012 revision also recorded a value of Rs 100 per sq.ft, which shows a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 1%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The changes in guideline value reflect the adjustments made by the authorities over the years, capturing the evolving nature of property valuation in the area.

Guideline values in Kilakadi

In Kilakadi village, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 433 per sq.ft, with a median value of Rs 150 per sq.ft. Marudham Nagar Extension's 2024 figure is below this median.

• Marudham Nagar: Rs 101 per sq.ft (2024)
• Mari Amman Kovil Street: Rs 100 per sq.ft (2024)
• Mullai Nagar: Rs 101 per sq.ft (2024)
• Mullai Nagar Extension: Rs 101 per sq.ft (2024)
• Laurel Nagar: Rs 101 per sq.ft (2024)
• Nila Nagar: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Marudham Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total fees together to Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marudham Nagar Extension?

The Sub Registrar Office that covers Marudham Nagar Extension is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilakadi. It is used as a basis to calculate stamp duty and registration fees, ensuring that the transaction is documented at a value recognized by the authorities.

When a buyer and seller agree on a sale price, the higher value between the agreed sale price and the guideline value is used to determine the applicable fees. This ensures that both parties adhere to the legal framework established for property transactions.

Frequently asked questions

What is the current guideline value of Marudham Nagar Extension?

The current guideline value of Marudham Nagar Extension is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 100 per sq.ft in 2023 to Rs 101 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has increased by 1%.

What is the land classification for Marudham Nagar Extension?

Marudham Nagar Extension is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 and the registration fee would be Rs 2,020, totaling Rs 9,090. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Marudham Nagar Extension?

The Salavakkam Sub Registrar Office covers Marudham Nagar Extension and is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.