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 area is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - III.

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

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained the same until the 2017 revision, where it dropped to Rs 1,072 per sq.ft, marking a decrease of 33%. The value increased significantly in the 2023 revision to Rs 1,600 per sq.ft, and further rose to Rs 1,760 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2017 revision did not have a figure for Maruthivar Street Rail Nagar (Ward -2), and there are no figures available for the revisions in 2002, 2003, and 2007.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Maruthivar Street Rail Nagar (Ward -2) above this median.

• Maruthupandiya Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Maruthi Nagar Annexe: Rs 660 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)

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 would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. 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 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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a significant role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, thus protecting the interests of both the buyer and the government.

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 back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification of Maruthivar Street Rail Nagar (Ward -2)?

The land classification of Maruthivar Street Rail Nagar (Ward -2) is Residential Special Type - III.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Maruthivar Street Rail Nagar (Ward -2) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for this area located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.