Guideline Value for Marudhi Nagar

Marudhi Nagar guideline value

The current guideline value of Marudhi Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Marudhi Nagar has changed

The guideline value for Marudhi Nagar has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw an increase to Rs 2,750 per sq.ft, representing a significant rise of 64% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Marudhi Nagar's 2024 figure above this median.

• Marudhi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Marudhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees total Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marudhi Nagar?

The Sub Registrar Office that covers Marudhi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial figure used during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which the property can be registered. This ensures transparency in property transactions and helps in maintaining a standardized pricing mechanism across the region.

Frequently asked questions

What is the current guideline value of Marudhi Nagar?

The current guideline value of Marudhi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,750 per sq.ft in 2024.

What is the land classification of Marudhi Nagar?

Marudhi Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Marudhi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.