Guideline Value for MARUTHI AVENUE

Maruthi Avenue guideline value

The current guideline value of Maruthi Avenue is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Maruthi Avenue has changed

The guideline value for Maruthi Avenue has seen several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft, which then decreased to Rs 167 per sq.ft in 2017. Following this, the value increased by 50% to Rs 250 per sq.ft in 2023, and it remained the same in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 to the 2024 revision is 0%, indicating that the guideline value has not changed from its 2012 level.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft, with the median being Rs 250 per sq.ft. Maruthi Avenue's 2024 figure is equal to this median.

• Moogambigai Nagar: Rs 226 per sq.ft (2024)
• Murali Nagar: Rs 200 per sq.ft (2024)
• Kasthuri Bai Nagar: Rs 502 per sq.ft (2024)
• Kansanbai Nagar: Rs 502 per sq.ft (2024)
• Pallavan Thirnagar: Rs 300 per sq.ft (2024)
• Pallavan Thirnagar Extension 2: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value would be Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 precise calculations.

Which Sub Registrar Office covers Maruthi Avenue?

The Sub Registrar Office that covers Maruthi Avenue is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a critical factor in property transactions in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is sold or purchased.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maruthi Avenue?

The current guideline value of Maruthi Avenue is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Maruthi Avenue has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Maruthi Avenue?

Maruthi Avenue is classified as Residential Class I Type - II.

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

The Sub Registrar Office for Maruthi Avenue is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Maruthi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 2,50,000 would incur a stamp duty of Rs 17,500 at 7%.