Guideline Value for Marutham Street

Marutham Street guideline value

The current guideline value of Marutham Street in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Marutham Street has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This value then decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, resulting in the current guideline value of Rs 1,100 per sq.ft.

The register has no figures for Marutham Street in the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In total, there are 322 streets in Peerklankaranai under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Marutham Street's 2024 figure is below this median.

• Maraimalai Adigal Street: Rs 1,650 per sq.ft (2024)
• Mani street ext: Rs 1,650 per sq.ft (2024)
• Mani Street: Rs 2,200 per sq.ft (2024)
• Manimegalai Street: Rs 1,650 per sq.ft (2024)
• Manikandan St: Rs 1,100 per sq.ft (2024)
• Malli Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Marutham Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 Marutham Street?

The Sub Registrar Office that covers Marutham Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price and the guideline value are compared, and the duty is charged on the higher of the two. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Marutham Street?

The current guideline value of Marutham Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Marutham Street has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the guideline values of other streets in Peerklankaranai?

Other streets in Peerklankaranai have varying guideline values, with rates ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft.

How is stamp duty calculated for properties in Marutham Street?

Stamp duty for properties in Marutham Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,100 per sq.ft would incur a total stamp duty of Rs 77,000.

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

The Sub Registrar Office for Marutham Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.