Guideline Value for MARUTHAMALAI M.T.C NAGAR

Maruthamalai M.T.C Nagar guideline value

The current guideline value of Maruthamalai M.T.C Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Mamandoor village, under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Maruthamalai M.T.C Nagar has changed

Over the years, the guideline value for Maruthamalai M.T.C Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision saw a decrease to Rs 335 per sq.ft. The guideline value then increased to Rs 500 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, reflecting a 0% change from 2023 to 2024. The overall change from the 2012 revision to the 2024 revision is also 0%.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mamandoor

In Mamandoor village, there are 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,200 per sq.ft. The median value is Rs 500 per sq.ft, which aligns with the current guideline value of Maruthamalai M.T.C Nagar.

• M.M.Nagar: Rs 800 per sq.ft (2024)
• Magalakshminagar Phase-I,Phase-II,Phase-III: Rs 500 per sq.ft (2024)
• Mtc Nagar: Rs 800 per sq.ft (2024)
• K.R. Nagar Extn: Rs 800 per sq.ft (2024)
• K.R. Nagar: Rs 800 per sq.ft (2024)
• N.T.R Garden: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthamalai M.T.C Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Maruthamalai M.T.C Nagar?

The Sub Registrar Office that covers Maruthamalai M.T.C 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 Mamandoor

The guideline value is a crucial factor when buying or selling property in Mamandoor. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value. This helps in maintaining transparency in property transactions within the region.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, which is essential for local development and infrastructure.

Frequently asked questions

What is the current guideline value of Maruthamalai M.T.C Nagar?

The current guideline value of Maruthamalai M.T.C Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft in the 2012, 2023, and 2024 revisions. It decreased to Rs 335 per sq.ft in 2017, marking a significant change of 49% from 2017 to 2023.

What is the land classification of Maruthamalai M.T.C Nagar?

Maruthamalai M.T.C Nagar is classified as Residential Special Type - II, indicating its suitability for residential developments.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot valued at Rs 500 per sq.ft would incur a total of Rs 45,000 in fees.