Guideline Value for MARUTHIVAR STREET RAIL NAGAR (WARD -2)

Maruthivar Street Rail Nagar (Ward -2) guideline value

The current guideline value of Maruthivar Street Rail Nagar (Ward -2) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Maruthivar Street Rail Nagar (Ward -2) has changed

The guideline value for Maruthivar Street Rail Nagar has seen several revisions over the years. In the 2012 revision, the value was Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,600 per sq.ft in the 2023 revision, and finally rose to Rs 1,760 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, which means Maruthivar Street Rail Nagar's 2024 figure of Rs 1,760 per sq.ft is above the median.

• Maruthupandiya Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Masthan Sahib Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Marudhiruvar Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Meenakshi Sundaranar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Maraimalai Adigalar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthivar Street Rail Nagar (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maruthivar Street Rail Nagar (Ward -2)?

The Sub Registrar Office that covers Maruthivar Street Rail Nagar (Ward -2) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kattankollatur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value is updated periodically, and staying informed about these changes can help in understanding the financial implications of property transactions.

Frequently asked questions

What is the current guideline value of Maruthivar Street Rail Nagar (Ward -2)?

The current guideline value of Maruthivar Street Rail Nagar (Ward -2) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for Maruthivar Street Rail Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Maruthivar Street Rail Nagar (Ward -2), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the median guideline value in Kattankollatur?

The median guideline value in Kattankollatur is Rs 1,100 per sq.ft, while Maruthivar Street Rail Nagar's guideline value of Rs 1,760 per sq.ft is above this median.