Guideline Value

Corporate

Guideline Value for MARUTHI NAGAR PHASE III

₹2750/sq.ft.

The guideline value for Maruthi Nagar Phase Iii in Thundalam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Thundalam

Village

Chennai South Joint I

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹825 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Maruthi Nagar Phase Iii

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Maruthi Nagar Phase III guideline value

The current guideline value of Maruthi Nagar Phase III is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Thundalam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Maruthi Nagar Phase III has changed

The guideline value of Maruthi Nagar Phase III has seen several revisions over the years. In 2007, the guideline value was Rs 825 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 203%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Maruthi Nagar Phase III above this median.

Stamp duty and registration fee for property in Maruthi Nagar Phase III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. 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 Nagar Phase III?

The Sub Registrar Office that covers Maruthi Nagar Phase III is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Thundalam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is used to assess the applicable charges, ensuring that the transaction is recorded accurately. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Maruthi Nagar Phase III?

The current guideline value of Maruthi Nagar Phase III is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 825 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 233% over the years.

What is the land classification for Maruthi Nagar Phase III?

Maruthi Nagar Phase III is classified as Residential Class I Type - I.

What are the stamp duty rates for property in Maruthi Nagar Phase III?

The stamp duty rate for property transactions in Maruthi Nagar Phase III is 7% of the guideline value or sale price, whichever is higher.

Which authority manages the registration of properties in Maruthi Nagar Phase III?

The registration of properties in Maruthi Nagar Phase III is managed by the Chennai South Joint I Sub Registrar Office.