Guideline Value for MARUTHAM NAGAR

Marutham Nagar guideline value

The current guideline value of Marutham Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Pazhamathoor village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Marutham Nagar has changed

Over the years, the guideline value for Marutham Nagar has seen several revisions. The 2007 revision set the value at Rs 225 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, this figure remained unchanged until the 2017 revision, which raised it to Rs 268 per sq.ft. The subsequent revisions in 2023 and 2024 maintained the value at Rs 400 per sq.ft, indicating a 0% change from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 78%.

Between the revisions, the most significant change occurred from 2017 to 2023, where the value rose by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 78%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pazhamathoor

In Pazhamathoor, there are seven streets under the Chengleput Joint II SRO that carry a 2024 guideline value. The current value for Marutham Nagar aligns with the median of Rs 400 per sq.ft among these streets. The other streets in Pazhamathoor and their respective guideline values are as follows:

• Mullai Nagar: Rs 400 per sq.ft (2024)
• Kurinjinagar Ext: Rs 400 per sq.ft (2024)
• Kurinjinagar: Rs 400 per sq.ft (2024)
• Neithal Nagar: Rs 400 per sq.ft (2024)
• Sai Ram Nagar: Rs 250 per sq.ft (2024)
• Askar Avenue: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Marutham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Marutham Nagar?

The Sub Registrar Office that covers Marutham Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Pazhamathoor. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value ensures that the transaction reflects a fair assessment of the property's worth according to government standards. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Marutham Nagar?

The current guideline value of Marutham Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent being Rs 400 per sq.ft in both 2023 and 2024. The value increased from Rs 268 per sq.ft in 2017 and has seen a total increase of 78% since 2007.

What are the other streets in Pazhamathoor with their guideline values?

Other streets in Pazhamathoor include Mullai Nagar, Kurinjinagar Ext, Kurinjinagar, Neithal Nagar, Sai Ram Nagar, and Askar Avenue, with values ranging from Rs 250 to Rs 400 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft would incur total fees of Rs 36,000.

Where can I find the Sub Registrar Office for Marutham Nagar?

The Sub Registrar Office for Marutham Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the appropriate link.