Guideline Value for MARUTHI NAGAR

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vellivoyal village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Maruthi Nagar has changed

In the 2017 revision, the guideline value for Maruthi Nagar was Rs 268 per sq.ft. This figure increased significantly to Rs 400 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 saw another increase of 10%, bringing the guideline value to Rs 440 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 64% in the guideline value.

Guideline values in Vellivoyal

In Vellivoyal village, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 715 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the 2024 figure for Maruthi Nagar.

• Meenachi Nagar: Rs 440 per sq.ft (2024)
• M G R Nagar: Rs 275 per sq.ft (2024)
• Mrf Nagar: Rs 550 per sq.ft (2024)
• Nehru Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• P.H. Road: Rs 550 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 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vellivoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and compliance with legal requirements. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Maruthi Nagar has increased from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, marking a total increase of 64% over the years.

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

The stamp duty for properties in Maruthi Nagar is 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would be Rs 39,600.

Which Sub Registrar Office handles registrations for Maruthi Nagar?

The Thiruvottiyur Sub Registrar Office handles registrations for Maruthi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Maruthi Nagar?

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