Guideline Value for MARUTHI NAGAR THILAGAR STREET

Maruthi Nagar Thilagar Street guideline value

The current guideline value of Maruthi Nagar Thilagar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street 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 Thilagar Street has changed

The guideline value for Maruthi Nagar Thilagar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous figure of Rs 1,675 per sq.ft in 2017. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest revision in 2024 raised it to Rs 2,750 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that have 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 of Maruthi Nagar Thilagar Street is above this median.

• Maruthi Nagar Vallalar Street: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar Rajendra Prasath Street: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar V.O.C. Street: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar Rajaji Street: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar Phase-II Main Road: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar Phase-III Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Nagar Thilagar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the 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, totaling Rs 2,47,500. 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 more details.

Which Sub Registrar Office covers Maruthi Nagar Thilagar Street?

The Sub Registrar Office covering Maruthi Nagar Thilagar Street 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 is an essential factor when registering property transactions in Thundalam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Maruthi Nagar Thilagar Street?

The current guideline value of Maruthi Nagar Thilagar Street 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 seen several revisions: it was Rs 2,500 per sq.ft in 2023, Rs 1,675 per sq.ft in 2017, and Rs 2,500 per sq.ft in 2012. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification for Maruthi Nagar Thilagar Street?

Maruthi Nagar Thilagar Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Maruthi Nagar Thilagar Street?

The Sub Registrar Office for Maruthi Nagar Thilagar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Thundalam?

Stamp duty in Thundalam is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 27,50,000 and the sale price is higher, the stamp duty will be calculated on that amount.