Guideline Value for Maruthi Nagar

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar, located in Oragadam village under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - II land classification.

How the guideline value of Maruthi Nagar has changed

The guideline value of Maruthi Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 100 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value surged to Rs 1,200 per sq.ft in 2012, but then decreased to Rs 804 per sq.ft in 2017. The value rose significantly to Rs 1,200 per sq.ft in 2023 and has now reached Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Notably, the jump from 2007 to 2012 was a substantial 300%. Overall, from 2003 to 2024, the guideline value has increased by 1200%. The register has no figure for the year 2002 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Maruthi Nagar is below this median.

• Maruthi Street: Rs 1,400 per sq.ft (2024)
• Masilamaneeswarar Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Masilamani Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Mariamman Koil Street (11th Ward): Rs 1,800 per sq.ft (2024)
• Mathan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Mathuram Street (Ram Nagar): Rs 2,400 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial metric used during the registration of properties in Oragadam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, the guideline value helps in determining the legal and financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the land classification of Maruthi Nagar?

Maruthi Nagar is classified as Residential Class III Type - II.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Maruthi Nagar?

The Ambattur Sub Registrar Office handles property registrations in Maruthi Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.