Guideline Value for MARUTHI NAGAR

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Vallur village under the Thiruvottiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Maruthi Nagar has changed

In the 2017 revision, the guideline value for Maruthi Nagar was Rs 201 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 saw another increase to the current rate of Rs 330 per sq.ft, which represents a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register does not have any figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vallur

Vallur village has a total of 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft. The median value for these streets is Rs 220 per sq.ft, placing Maruthi Nagar's 2024 figure above this median.

• Maruthi Puram: Rs 220 per sq.ft (2024)
• M.C.Raja Street: Rs 220 per sq.ft (2024)
• Maheswari Nagar: Rs 550 per sq.ft (2024)
• Mahaveer Nagar: Rs 550 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 220 per sq.ft (2024)
• Min Nagar: Rs 220 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maruthi Nagar?

The Sub Registrar Office that covers Maruthi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For additional details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Vallur. It serves as a reference point for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a property is registered, the guideline value is taken into account to ensure that the appropriate taxes are levied. Buyers and sellers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification of Maruthi Nagar?

Maruthi Nagar is classified as Residential Class I Type - II. This classification is important for understanding the types of properties and developments allowed in the area.

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

The Thiruvottiyur Sub Registrar Office covers Maruthi Nagar and is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Maruthi Nagar?

The stamp duty for properties in Maruthi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 23,100 at a rate of 7%.