Guideline Value for MARUTHUPANDIYA STREET (WARD -8)

Maruthupandiya Street (Ward -8) guideline value

The current guideline value of Maruthupandiya Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai 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 Maruthupandiya Street (Ward -8) has changed

The guideline value for Maruthupandiya Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rose significantly to Rs 1,600 per sq.ft in the 2023 revision, and then further increased by 10% to the current rate of Rs 1,760 per sq.ft in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is worth noting that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, which means that the current guideline value of Maruthupandiya Street (Ward -8) is above this median.

• Maruthivar Street Rail Nagar (Ward -2): Rs 1,760 per sq.ft (2024)
• Masthan Sahib Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Marudhiruvar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Meenakshi Sundaranar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Maraimalai Adigalar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthupandiya Street (Ward -8)

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 cost for these fees 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 Maruthupandiya Street (Ward -8)?

The Sub Registrar Office that covers Maruthupandiya Street (Ward -8) 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 Ninna Karai

The guideline value is a crucial factor in property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value when negotiating sales to ensure compliance with the registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maruthupandiya Street (Ward -8)?

The current guideline value of Maruthupandiya Street (Ward -8) 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 increased 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 for Maruthupandiya Street?

The land classification for Maruthupandiya Street (Ward -8) is Residential Special Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How do I calculate stamp duty and registration fees for properties in Ninna Karai?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.