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 Sattamangalam village and falls under the Chengleput Joint II SRO with a land classification of Residential Special Type - III.

How the guideline value of Maruthupandiya Street (Ward -8) has changed

In the 2012 revision, the guideline value was set at Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft, marking a -33% change. The value then saw a significant increase to Rs 1,600 per sq.ft in the 2023 revision, followed by another increase to Rs 1,760 per sq.ft in the 2024 revision, reflecting a +10% change.

From 2017 to 2023, the value increased by +49%. Overall, from the 2012 revision to the 2024 revision, 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 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 guideline value is Rs 1,100 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)
• 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 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 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, bringing the total fees together 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, 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 crucial role during the registration of property transactions in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the financial aspects of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any issues during registration.

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 seen several changes, from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 in 2023, and finally to Rs 1,760 in 2024.

What is the land classification of Maruthupandiya Street?

Maruthupandiya Street is classified as Residential Special Type - III, according to the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees can amount to Rs 1,58,400.

Where is the Chengleput Joint II Sub Registrar Office located?

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