Guideline Value for Maruthi Nagar

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar is Rs 450 per sq.ft, effective from 1 July 2024. This area is located in P.V.Kalathur A village, under the Chengleput Joint I SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Maruthi Nagar has changed

The guideline value for Maruthi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 301 per sq.ft, which remained unchanged at Rs 450 per sq.ft in the 2023 revision. The latest revision in 2024 also holds the guideline value at Rs 450 per sq.ft, indicating no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 50%. Overall, from 2017 to 2024, the guideline value has increased by 50% as well, reflecting a consistent valuation since the 2023 revision. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in P.V.Kalathur A

In P.V.Kalathur A, there are 21 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 450 per sq.ft. The median value for these streets is Rs 402 per sq.ft, placing Maruthi Nagar's 2024 figure above this median.

• Nethaji Nagar: Rs 450 per sq.ft (2024)
• K.J.P. Nagar: Rs 402 per sq.ft (2024)
• Priya Nagar: Rs 400 per sq.ft (2024)
• Ramakrishna Nagar Ext: Rs 402 per sq.ft (2024)
• Ramakrishna Nagar Part-II: Rs 250 per sq.ft (2024)
• Ramakrishna Nagar Part-II Ext: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 450 per sq.ft, the guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, totaling Rs 40,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Maruthi Nagar?

The Chengleput Joint I Sub Registrar Office covers Maruthi Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further details.

How the guideline value is used when you buy or sell in P.V.Kalathur A

The guideline value is a crucial factor in the registration process when buying or selling property in P.V.Kalathur A. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value helps in establishing a benchmark for the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 450 per sq.ft from 2023 to 2024, with a 50% increase from Rs 301 per sq.ft in 2017 to Rs 450 per sq.ft in 2023. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification for Maruthi Nagar?

The land classification for Maruthi Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Chengleput Joint I Sub Registrar Office located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Maruthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 450 per sq.ft, the total guideline value is Rs 4,50,000, leading to a stamp duty of Rs 31,500.