Guideline Value

Corporate

Guideline Value for MARUTHI NAGAR PHASE II

₹2750/sq.ft.

The guideline value for Maruthi Nagar Phase Ii 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 N/A
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 Ii

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Maruthi Nagar Phase II guideline value

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

How the guideline value of Maruthi Nagar Phase II has changed

The guideline value for Maruthi Nagar Phase II has seen several revisions over the years. Starting from the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This changed to Rs 1,675 per sq.ft in the 2017 revision, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, a 10% increase from the previous year.

There are no registered 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 Thundalam

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

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

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, and the registration fee at 2% would be Rs 55,000, bringing the total 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Maruthi Nagar Phase II?

The Sub Registrar Office that covers Maruthi Nagar Phase II 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 further assistance.

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

The guideline value plays a crucial role when buying or selling property in Thundalam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is often used as a benchmark for property transactions.

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

Frequently asked questions

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

The current guideline value of Maruthi Nagar Phase II 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Maruthi Nagar Phase II?

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

Where can I find information about other streets in Thundalam?

Information about other streets in Thundalam can be found in the guideline value register, which includes various streets with their respective guideline values.

How is stamp duty calculated for properties in Maruthi Nagar Phase II?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot, the guideline value would lead to a total stamp duty of Rs 1,92,500.