Guideline Value for Marudhupandi Street

Marudhupandi Street guideline value

The current guideline value of Marudhupandi Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Marudhupandi Street has changed

The guideline value for Marudhupandi Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in 2017, and then an increase to Rs 900 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 990 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, there was a significant increase of 49%. Overall, the guideline value has increased by 10% from the 2012 figure to the current 2024 figure. There are no recorded figures for Marudhupandi Street in the revisions of 2002, 2003, or 2007.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft as per the 2024 revision. The median value for these streets is Rs 1,650 per sq.ft, indicating that Marudhupandi Street's current guideline value is below this median.

• Marvel County: Rs 1,320 per sq.ft (2024)
• M.C.V. Nagar: Rs 2,480 per sq.ft (2024)
• Metro Paradise Town: Rs 1,100 per sq.ft (2024)
• Mahalakshmi Nagar Extension: Rs 1,320 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Madhanapuram: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Marudhupandi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty, charged at 7%, would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, the total cost for these fees would be Rs 89,100. It is important to note that 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 Marudhupandi Street?

The Sub Registrar Office that covers Marudhupandi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set a realistic price based on the current market conditions.

Frequently asked questions

What is the current guideline value of Marudhupandi Street?

The current guideline value of Marudhupandi Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Marudhupandi Street?

Marudhupandi Street is classified as Residential Class III Type - I.

How does the guideline value compare to other streets in Varadarajapuram?

Marudhupandi Street's guideline value of Rs 990 per sq.ft is below the median value of Rs 1,650 per sq.ft for the 250 streets in Varadarajapuram.

Where can I find the Sub Registrar Office for Marudhupandi Street?

The Sub Registrar Office for Marudhupandi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.