Guideline Value for MARUTHI NAGAR

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar is Rs 804 per sq.ft, effective from 1 July 2024. This area is located in Mukthapudupattu village under the Avadi SRO, classified as Residential Class II Type - I.

How the guideline value of Maruthi Nagar has changed

Over the years, the guideline value of Maruthi Nagar has seen significant changes. The 2007 revision set the value at Rs 140 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, the value dropped to Rs 268 per sq.ft in 2017. Following this, the value surged to Rs 600 per sq.ft in 2023, and most recently, it has risen to Rs 804 per sq.ft in the 2024 revision, marking a 34% increase from the previous year.

From the 2017 revision to 2023, there was a remarkable increase of 124%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 186%. Overall, from 2007 to 2024, the guideline value has increased by 474%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mukthapudupattu

In Mukthapudupattu, there are 37 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 800 to Rs 804 per sq.ft, with a median value of Rs 802 per sq.ft. The guideline value for Maruthi Nagar is above this median.

• Masoothi St: Rs 802 per sq.ft (2024)
• M.E.S.Salai: Rs 802 per sq.ft (2024)
• M.E.S.Salai 1st Street: Rs 802 per sq.ft (2024)
• M.E.S.Salai 2nd Street: Rs 802 per sq.ft (2024)
• Main Road: Rs 802 per sq.ft (2024)
• Nadu Street(Center St): Rs 804 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 804 per sq.ft, the guideline value would be Rs 8,04,000. The stamp duty at 7% would be Rs 56,280, and the registration fee at 2% would be Rs 16,080, totaling Rs 72,360. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the 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 Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mukthapudupattu. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value ensures transparency and helps in standardizing property transactions within the region.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 804 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 140 per sq.ft in 2007 to Rs 804 per sq.ft in 2024. Notably, there was a 124% increase from 2017 to 2023.

What is the land classification of Maruthi Nagar?

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

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

For a property valued at Rs 8,04,000, the stamp duty would be Rs 56,280, and the registration fee would be Rs 16,080, totaling Rs 72,360.

Which office handles property registrations for Maruthi Nagar?

The Avadi Sub Registrar Office handles property registrations for Maruthi Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.