Guideline Value for MARUTHI PURAM

Maruthi Puram guideline value

The current guideline value of Maruthi Puram is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village under the Thiruvottiyur SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Maruthi Puram has changed

The guideline value for Maruthi Puram has seen several revisions over the years. The earliest recorded figure is from the 2017 revision at Rs 134 per sq.ft. This was followed by a significant increase to Rs 200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 220 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft. The median value is Rs 220 per sq.ft, which is equal to the guideline value of Maruthi Puram.

• Maruthi Nagar: Rs 330 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)
• Min Nagar: Rs 220 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,20,000, the stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, totaling Rs 19,800. 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 detailed calculations.

Which Sub Registrar Office covers Maruthi Puram?

The Sub Registrar Office that covers Maruthi Puram 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 Vallur

The guideline value plays a crucial role in the registration process when buying or selling property in Vallur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value.

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

Frequently asked questions

What is the current guideline value of Maruthi Puram?

The current guideline value of Maruthi Puram is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024, marking an overall increase of 64% over the period.

What are the other streets in Vallur with their guideline values?

Other streets in Vallur include Maruthi Nagar at Rs 330 per sq.ft, M.C.Raja Street and Min Nagar at Rs 220 per sq.ft, and Maheswari Nagar and Mahaveer Nagar at Rs 550 per sq.ft.

Where is the Thiruvottiyur Sub Registrar Office located?

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

How is stamp duty calculated in Maruthi Puram?

Stamp duty in Maruthi Puram is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 at a rate of 7%.