Guideline Value for Maruthi Nagar

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Sethupattu village under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Maruthi Nagar has changed

Looking back at the revisions, the guideline value for Maruthi Nagar was Rs 250 per sq.ft in both the 2023 and 2024 revisions, showing no change between these years. In the 2017 revision, the value was Rs 167 per sq.ft, which marked a 50% increase when compared to the 2023 figure. The 2012 revision also had a guideline value of Rs 250 per sq.ft, indicating a decrease of 33% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 250 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Sethupattu

Sethupattu village has 23 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 300 per sq.ft. Maruthi Nagar's 2024 figure is below this median.

• Mahalakshmi Nagar (Phase-II) in Eden Garden: Rs 1,300 per sq.ft (2024)
• Mahalakshmi Nagar (Phase-I) (EDEN GARDEN): Rs 1,300 per sq.ft (2024)
• Perumal Koil Street: Rs 250 per sq.ft (2024)
• P.S.Nagar: Rs 250 per sq.ft (2024)
• P.S.Nagar Ph.II: Rs 250 per sq.ft (2024)
• Highway Avenue: Rs 200 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would amount to Rs 5,000. Together, the total fees would be Rs 22,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Sethupattu. It serves as a benchmark for calculating the stamp duty and registration fees that are payable at the time of property transactions.

When you buy or sell property in this area, the guideline value is used to determine the official value of the property, which in turn affects the total costs involved in the transaction. It is essential to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in both the 2023 and 2024 revisions. It was Rs 167 per sq.ft in 2017 and Rs 250 per sq.ft in 2012, reflecting a 50% increase from 2017 to 2023.

What is the land classification of Maruthi Nagar?

Maruthi Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property in Maruthi Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or sale price, whichever is higher.

Which office handles property registrations in Maruthi Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Maruthi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.