Guideline Value for MARUTHAI STREET

Maruthai Street guideline value

The current guideline value of Maruthai Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Maruthai Street has changed

The guideline value for Maruthai Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33% from the previous figure. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 443%. It is important to note that there are no figures available for Maruthai Street for the years 2002 and 2003.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Maruthai Street's 2024 figure of Rs 3,800 per sq.ft is below this median.

• Mariamman Koil Street-Ashok Nagar: Rs 5,000 per sq.ft (2024)
• Mariamman Koil Street: Rs 3,800 per sq.ft (2024)
• Maraimalai Adigalar Street (Razack Garden): Rs 6,000 per sq.ft (2024)
• Mangali Nagar I St Street: Rs 6,600 per sq.ft (2024)
• Mangali Nagar II Nd Street: Rs 6,600 per sq.ft (2024)
• Mangali Nagar III Rd Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maruthai Street?

The Sub Registrar Office that covers Maruthai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Arumbakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maruthai Street?

The current guideline value of Maruthai Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 3,800 per sq.ft in 2024, marking an overall increase of 443% over the years.

What are the stamp duty rates for properties in Maruthai Street?

The stamp duty for properties in Maruthai Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, with Maruthai Street's 2024 figure of Rs 3,800 per sq.ft being below this median.