Guideline Value for MARUTHI NAGAR

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar, located in Palleswaram village under the Arani_Tiruvallur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Maruthi Nagar has changed

The guideline value for Maruthi Nagar has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to this, in 2017, the guideline value was Rs 167 per sq.ft. The register has no figure for the years 2012, 2007, 2003, and 2002 for this street.

From 2017 to 2023, there was a significant increase of 50%, bringing the value up to Rs 250 per sq.ft. Overall, from 2017 to 2024, the guideline value increased by 50%, maintaining the same rate from 2023 to 2024.

Guideline values in Palleswaram

Currently, there are no specific village figures provided for Palleswaram. Maruthi Nagar is the only street mentioned under the Arani_Tiruvallur SRO with a guideline value of Rs 250 per sq.ft for 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maruthi Nagar?

The Sub Registrar Office that covers Maruthi Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palleswaram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these fees are calculated based on the official valuation of the property.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Maruthi Nagar has remained at Rs 250 per sq.ft from 2023 to 2024. It increased by 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification for Maruthi Nagar?

Maruthi Nagar is classified as Residential Class III Type - I according to the land classification regulations.

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

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Maruthi Nagar located?

The Sub Registrar Office for Maruthi Nagar is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. This office handles all property registrations in the area.