Guideline Value for MARUTHI NAGAR (CHEN)

Maruthi Nagar (Chen) guideline value

The current guideline value of Maruthi Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Maruthi Nagar (Chen) has changed

Since the 2012 revision, the guideline value for Maruthi Nagar (Chen) has seen several changes. In 2012, the value was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 800 per sq.ft. The most recent revision in 2024 saw another increase of 10%, resulting in the current value of Rs 880 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 660 to Rs 3,285 per sq.ft. The median value is Rs 880 per sq.ft, which is the same as the current guideline value for Maruthi Nagar (Chen).

• Mariyamman Koil Street (Chen): Rs 660 per sq.ft (2024)
• Meenatchipuram (Chen): Rs 880 per sq.ft (2024)
• Mettu Street (Chen): Rs 660 per sq.ft (2024)
• Malrosapuram (Chen): Rs 880 per sq.ft (2024)
• Malleswaran Nagar (Chen): Rs 880 per sq.ft (2024)
• Malaimedu (Chen): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Nagar (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Maruthi Nagar (Chen)?

The Sub Registrar Office that covers Maruthi Nagar (Chen) 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 Sengundram - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sengundram - 1. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are paid. This value helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Maruthi Nagar (Chen)?

The current guideline value of Maruthi Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the stamp duty rate for property in Maruthi Nagar (Chen)?

The stamp duty rate for property in Maruthi Nagar (Chen) is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Maruthi Nagar (Chen)?

The Sub Registrar Office for Maruthi Nagar (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What are the other streets in Sengundram - 1 with guideline values?

Other streets in Sengundram - 1 include Mariyamman Koil Street, Meenatchipuram, Mettu Street, Malrosapuram, Malleswaran Nagar, and Malaimedu, with guideline values ranging from Rs 660 to Rs 880 per sq.ft.