Guideline Value for Maruthi Nagar

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Parivakkam village under the Poonamallee SRO and is classified as Residential Class I Type - I.

How the guideline value of Maruthi Nagar has changed

The guideline value for Maruthi Nagar has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for Maruthi Nagar for the years 2002, 2003, and 2007.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a guideline value for 2024, ranging from Rs 660 to Rs 6,750 per sq.ft, with a median value of Rs 1,800 per sq.ft. Maruthi Nagar's 2024 guideline value is below this median.

• Masilamani Nagar: Rs 1,100 per sq.ft (2024)
• Masilamani Nagar Extension: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase VIII: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase VII: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase VI: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase V: Rs 1,800 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total of Rs 59,400. Duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Parivakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the other streets in Parivakkam and their guideline values?

Other streets in Parivakkam include Masilamani Nagar at Rs 1,100 per sq.ft, Masilamani Nagar Extension at Rs 1,800 per sq.ft, and several Krishna Nagar phases at Rs 1,800 per sq.ft each.

What is the stamp duty for property in Maruthi Nagar?

The stamp duty for property in Maruthi Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200.

Which office handles property registration in Maruthi Nagar?

The Poonamallee Sub Registrar Office handles property registration for Maruthi Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.