Guideline Value for MARUTHAR NAGAR

Maruthar Nagar guideline value

The current guideline value of Maruthar Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village, under the Thiruvottiyur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Maruthar Nagar has changed

The guideline value for Maruthar Nagar has undergone several revisions over the years. Starting from Rs 35 per sq.ft in 2003, it increased to Rs 50 per sq.ft in 2007, reflecting a change of +43%. In 2012, the value rose to Rs 300 per sq.ft, marking a significant increase of +500%. However, the value then decreased to Rs 201 per sq.ft in 2017, a drop of -33%. The 2023 revision set the value at Rs 300 per sq.ft, and the most recent 2024 revision has increased it to Rs 330 per sq.ft, a change of +10%.

Overall, from 2003 to 2024, the guideline value has increased by +843%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, making Maruthar Nagar's 2024 figure equal to this median.

• MARIAMMAN NAGAR/ All EXTN: Rs 330 per sq.ft (2024)
• M.C. Nagar: Rs 385 per sq.ft (2024)
• Mahaveer Nagar: Rs 330 per sq.ft (2024)
• M .G. R Nagar: Rs 330 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 330 per sq.ft (2024)
• M.J.Muthusubramani Nagar: Rs 627 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total fees together Rs 29,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maruthar Nagar?

The Sub Registrar Office that covers Maruthar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Nanthiambakkam. It serves as a benchmark for 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 helps determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Maruthar Nagar?

The current guideline value of Maruthar Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of +843% over the years.

What is the land classification for Maruthar Nagar?

The land classification for Maruthar Nagar is Residential Special Type - II.

What are the stamp duty and registration fees for property in Maruthar Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,30,000, leading to a stamp duty of Rs 23,100 and a registration fee of Rs 6,600, totaling Rs 29,700.

Which office handles property registration for Maruthar Nagar?

The Thiruvottiyur Sub Registrar Office handles property registration for Maruthar Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.