Guideline Value for MARUDUR TOWN

Marudur Town guideline value

The current guideline value of Marudur Town is Rs 300 per sq.ft, effective from 1 July 2024. This falls under Kovilkuppam village, registered with the Manavalanagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Marudur Town has changed

The guideline value has undergone several revisions over the years. In 2012, the value was Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in 2017. Following this, the value increased by 49% to Rs 300 per sq.ft in 2023. The most recent revision in 2024 maintained the value at Rs 300 per sq.ft, showing no percentage change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft. The fluctuations between the revisions highlight the changes in the property landscape, with the significant increase between 2017 and 2023 marking a notable shift.

Guideline values in Kovilkuppam

Kovilkuppam has a total of 68 streets under the Manavalanagar SRO, with guideline values ranging from Rs 300 to Rs 800 per sq.ft. The median value across these streets is Rs 350 per sq.ft, placing Marudur Town's 2024 figure below this median.

• Manickam Nagar: Rs 350 per sq.ft (2024)
• Lakshmi Nagar: Rs 300 per sq.ft (2024)
• Kothandarama Naidu Nagar: Rs 350 per sq.ft (2024)
• Kaveri Nagar: Rs 300 per sq.ft (2024)
• Pemmasani Avenue: Rs 300 per sq.ft (2024)
• J.S.Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Marudur Town

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Marudur Town?

The Sub Registrar Office that covers Marudur Town 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kovilkuppam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Marudur Town?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, with significant increases and decreases over the years, particularly a 49% increase from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

What is the classification of land in Marudur Town?

Marudur Town is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Marudur Town?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where can I find the Sub Registrar Office for Marudur Town?

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