Guideline Value for Maruthi Nagar

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Maruthi Nagar has changed

Over the years, the guideline value of Maruthi Nagar has seen several revisions. In 2002, the guideline value was Rs 86 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a change of +281%. The value then rose dramatically to Rs 1,500 per sq.ft in 2012, reflecting an increase of +357%. However, it decreased to Rs 1,005 per sq.ft in 2017, showing a decline of -33%. The value remained stable at Rs 1,500 per sq.ft in both 2023 and 2024, indicating no change from the previous year.

It is important to note that there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +1644%, highlighting significant growth over the years.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value of Maruthi Nagar.

• MasoothiStreet: Rs 1,500 per sq.ft (2024)
• Meenakshi Avenue: Rs 1,500 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,500 per sq.ft (2024)
• Manigandapuram: Rs 1,500 per sq.ft (2024)
• Mettu Street: Rs 1,200 per sq.ft (2024)
• M.G. Nagar Part-IA: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maruthi Nagar?

The Sub Registrar Office that covers Maruthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of properties in Nandhivaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value serves as a benchmark for calculating the financial obligations involved in the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which could affect the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes from Rs 86 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2012, then to Rs 1,005 per sq.ft in 2017, and remaining stable at Rs 1,500 per sq.ft in 2023 and 2024.

What is the land classification for Maruthi Nagar?

The land classification for Maruthi Nagar is Residential Special Type - I.

Which office handles registrations for Maruthi Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Maruthi Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Maruthi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot valued at Rs 1,500 per sq.ft would incur a stamp duty of Rs 1,05,000.