Guideline Value for Marudhupandiar Street

Marudhupandiar Street guideline value

The current guideline value of Marudhupandiar Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the Redhills SRO, and is classified as Residential Special Type - I.

How the guideline value of Marudhupandiar Street has changed

The guideline value for Marudhupandiar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Marudhupandiar Street's 2024 value above this median.

• Maraimalai Adigal Street: Rs 770 per sq.ft (2024)
• Masuthi Street: Rs 770 per sq.ft (2024)
• Matha Koil Street: Rs 770 per sq.ft (2024)
• Meenakshi Nagar: Rs 385 per sq.ft (2024)
• M.A.Nagar Varadarasanar Street: Rs 770 per sq.ft (2024)
• Mahameru Nagar Extn.: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Marudhupandiar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marudhupandiar Street?

The Sub Registrar Office that covers Marudhupandiar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Padiyanallur. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and fairly in the official registers.

Frequently asked questions

What is the current guideline value of Marudhupandiar Street?

The current guideline value of Marudhupandiar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the median guideline value in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, with Marudhupandiar Street's 2024 value being above this median.

What are the stamp duty and registration fees for Marudhupandiar Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Marudhupandiar Street?

The Redhills Sub Registrar Office handles property registrations for Marudhupandiar Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.