Guideline Value for Marutham Street

Marutham Street guideline value

The current guideline value of Marutham Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Marutham Street has changed

Since the 2007 revision, the guideline value for Marutham Street has seen significant changes. In 2007, the value was Rs 800 per sq.ft, which increased to Rs 2,010 per sq.ft in 2017, marking a 151% rise. The value further increased to Rs 3,000 per sq.ft in 2023, reflecting a 49% change from the previous revision. The current value of Rs 3,300 per sq.ft, effective from 2024, represents a 10% increase from 2023. It is important to note that the register has no figures for the years 2002, 2003, and 2012 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making Marutham Street's 2024 figure below the median.

• Mariyappa Naicken Street: Rs 3,300 per sq.ft (2024)
• Maruthu Pandiyar Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil Street Block 80: Rs 3,300 per sq.ft (2024)
• Masilamani Mudaly Street: Rs 3,300 per sq.ft (2024)
• Mastan Ali Garden: Rs 4,100 per sq.ft (2024)
• Masuthi Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Marutham Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value totals Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Marutham Street?

The Sub Registrar Office that covers Marutham Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value will be used to calculate the applicable stamp duty and registration fees. This means that both buyers and sellers should be aware of the guideline value to accurately estimate the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Marutham Street?

The current guideline value of Marutham Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is a total increase of 313% over the years.

What are the other streets in Kodambakkam with the same guideline value?

Other streets in Kodambakkam with a guideline value of Rs 3,300 per sq.ft in 2024 include Mariyappa Naicken Street, Maruthu Pandiyar Street, Mariyamman Koil Street Block 80, and Masilamani Mudaly Street.

What is the stamp duty rate for properties in Marutham Street?

The stamp duty rate for properties in Marutham Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Marutham Street located?

The Sub Registrar Office for Marutham Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.