Guideline Value for MARUTHI NAGAR

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Maruthi Nagar has changed

The guideline value for Maruthi Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 670 per sq.ft in 2017. The value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current rate of Rs 1,110 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

Examining the changes between revisions, the increase from 2007 to 2012 was +300%. From 2012 to 2017, there was a decline of -33%. The value then increased by +49% from 2017 to 2023, and finally, an increase of +11% was noted from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by +344%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Maruthi Nagar is above this median.

• Meenakchi Amman Koil Street: Rs 1,100 per sq.ft (2024)
• MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD: Rs 1,110 per sq.ft (2024)
• Middle Street: Rs 1,110 per sq.ft (2024)
• Maha Vishnu Nagar: Rs 770 per sq.ft (2024)
• Mocherri Colony: Rs 660 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty, charged at 7%, would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total to Rs 99,900. 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?

The Sub Registrar Office that covers Maruthi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 250 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets in Mathuranthagam with similar guideline values?

Other streets in Mathuranthagam, such as Meenakchi Amman Koil Street and Mahaveer Nagar, also have a guideline value of Rs 1,110 per sq.ft in 2024, indicating similar valuation trends.

What are the stamp duty and registration fees in Maruthi Nagar?

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 and the registration fee would be Rs 22,200, totaling Rs 99,900.

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

The Madurandakam Sub Registrar Office, which covers Maruthi Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.