Guideline Value for MARUDHI STREET

Marudhi Street guideline value

The current guideline value of Marudhi Street in Vengathur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Commercial Class I Type - III.

How the guideline value of Marudhi Street has changed

The guideline value for Marudhi Street has undergone several revisions over the years. The earliest recorded figure was Rs 150 per sq.ft in 2007. This value saw a significant increase to Rs 1,300 per sq.ft in 2012, marking a rise of 767%. However, from 2012 to 2017, the value decreased to Rs 871 per sq.ft, a drop of 33%. The value then increased to Rs 1,300 per sq.ft in both 2023 and 2024, showing a 49% increase from the 2017 figure, but no change from the previous year.

It is important to note that there are no recorded figures for Marudhi Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Marudhi Street's 2024 figure is above this median.

• Marudham Street: Rs 700 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 Marudhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. 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 Marudhi Street?

The Marudhi Street falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vengathur, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Marudhi Street?

The current guideline value of Marudhi Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 767% over this period.

What is the land classification for Marudhi Street?

Marudhi Street is classified as Commercial Class I Type - III under the current guidelines.

Where can I find the Sub Registrar Office for Marudhi Street?

The Sub Registrar Office covering Marudhi Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Marudhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.