Guideline Value for MARUDHAM STREET

Marudham Street guideline value

The current guideline value of Marudham Street in Vengathur village, under the Manavalanagar SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Marudham Street has changed

In the 2007 revision, the guideline value was Rs 125 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft. The 2023 revision maintained the value at Rs 700 per sq.ft, and the 2024 revision also reflects the same figure of Rs 700 per sq.ft. There are no figures for Marudham Street in the 2002 and 2003 revisions.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a substantial 460%, while the value decreased by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 460%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with 2024 guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Marudham Street's 2024 figure below that median.

• Marudhi Street: Rs 1,300 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 1,300 per sq.ft (2024)
• Ma.Po.See. Street: Rs 1,300 per sq.ft (2024)
• Ma.Pa.Sarathi: Rs 700 per sq.ft (2024)
• Mayar Chitti Babu Street: Rs 700 per sq.ft (2024)
• Manikandan Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Marudham Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 more information.

Which Sub Registrar Office covers Marudham Street?

The Sub Registrar Office that covers Marudham Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential reference point during property transactions in Vengathur. It is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately in the official registers. This value is crucial for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Marudham Street?

The current guideline value of Marudham Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 125 per sq.ft in 2007, rising to Rs 700 in 2012, dropping to Rs 469 in 2017, and then returning to Rs 700 in both 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with Marudham Street's current value being below this median.

What are the stamp duty and registration fees for a property in Marudham Street?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles registrations for Marudham Street?

The Manavalanagar Sub Registrar Office handles registrations for Marudham Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.