Guideline Value for MARUTHI FLATS

Maruthi Flats guideline value

The current guideline value of Maruthi Flats in Korattur village under the Villivakkam SRO is Rs 2,900 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - II land classification.

How the guideline value of Maruthi Flats has changed

The guideline value for Maruthi Flats has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,900 per sq.ft, which is an increase of 7% from the 2023 revision of Rs 2,700 per sq.ft. Prior to this, the 2012 revision also recorded the value at Rs 2,700 per sq.ft, indicating no change from 2012 to 2023. There are no figures available for the revisions in 2017, 2007, 2003, and 2002 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. This steady increase reflects the changes in the property valuation over the years, culminating in the current figure of Rs 2,900 per sq.ft.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing the guideline value of Maruthi Flats above this median.

• Mariyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Mariyamma Nagar: Rs 2,500 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,600 per sq.ft (2024)
• Menabedu Road (Kanchinakuppam): Rs 2,500 per sq.ft (2024)
• Malligai Avenue: Rs 1,600 per sq.ft (2024)
• Malar Nagar Mgr.Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total fees together to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maruthi Flats?

The Sub Registrar Office that covers Maruthi Flats is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Korattur, the guideline value is a critical factor used during the registration process. It serves as a baseline for determining the stamp duty and registration fees applicable to the transaction.

The guideline value helps ensure that property transactions are conducted transparently and fairly, reflecting the current valuation set by the Registration Department. Buyers and sellers should be aware of these values to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Maruthi Flats?

The current guideline value of Maruthi Flats is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, marking a 7% increase. From 2012 to 2023, there was no change in the value, remaining at Rs 2,700 per sq.ft.

What is the median guideline value in Korattur?

The median guideline value in Korattur is Rs 2,500 per sq.ft. The guideline value for Maruthi Flats is above this median, indicating a higher valuation for this street.

What are the stamp duty and registration fees for Maruthi Flats?

For a 1,000 sq.ft plot at the guideline value of Rs 2,900 per sq.ft, the total guideline value is Rs 29,00,000. The stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which office handles registrations for Maruthi Flats?

The Villivakkam Sub Registrar Office handles registrations for Maruthi Flats, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.