Guideline Value for MARUTHI AVENUE

Maruthi Avenue guideline value

The current guideline value of Maruthi Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Maruthi Avenue has changed

The guideline value for Maruthi Avenue has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

Between the revisions, notable changes include a significant 49% increase from 2017 to 2023, while the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Maruthi Avenue's 2024 figure is below this median.

• Mariamman Koil Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 5th Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 5th Cross Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 4th Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 4th Cross Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 3rd Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maruthi Avenue?

The Sub Registrar Office that covers Maruthi Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the actual sale price, whichever is higher. This ensures transparency and fairness in property transactions, aligning the registration process with the current market conditions.

Frequently asked questions

What is the current guideline value of Maruthi Avenue?

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

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, then returned to Rs 1,200 per sq.ft in 2023, and finally increased to Rs 1,300 per sq.ft in 2024.

What is the land classification of Maruthi Avenue?

Maruthi Avenue is classified as Residential Class III Type - II, indicating its designation for residential use within the Selaiyur area.

Where can I find the Sub Registrar Office for Maruthi Avenue?

The Sub Registrar Office for Maruthi Avenue is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 and a registration fee of Rs 26,000.