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 Panangottur 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. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,600 per sq.ft, and the latest revision in 2024 has raised it further to Rs 1,760 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the increase from the 2023 to the 2024 revision is 10%. From 2017 to 2023, the value increased by 49%. However, there was a decrease of 33% between the 2012 and 2017 revisions. 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 Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, placing Maruthupandiya Street's 2024 figure 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 1,320 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 Maruthupandiya Street (Ward -8)

For a 1,000 sq.ft plot at the current rate of Rs 1,760 per sq.ft, the 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, totaling Rs 1,58,400. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial when registering properties in Panangottur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When purchasing or selling property, it is essential to ensure that the guideline value reflects the current market conditions. This value is regularly updated to provide an accurate basis for property transactions, ensuring transparency in the real estate market.

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 back 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 property in Maruthupandiya Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,58,400, calculated based on the guideline value of Rs 17,60,000.

Which Sub Registrar Office is responsible for Maruthupandiya Street?

The Chengleput Joint II Sub Registrar Office is responsible for Maruthupandiya Street (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Maruthupandiya Street?

The land classification for Maruthupandiya Street (Ward -8) is Residential Special Type - III, indicating its suitability for residential development.