Guideline Value for Maruthi Nagar

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Maruthi Nagar has changed

The guideline value register shows no figures for Maruthi Nagar for the years 2002, 2003, 2007, 2012, 2017, and 2023. The latest revision, effective from 1 July 2024, sets the guideline value at Rs 1,650 per sq.ft.

There have been no changes between the revisions for this street. The current figure reflects the most recent assessment as of 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, making Maruthi Nagar's 2024 figure below that median.

• Marudhi Street: Rs 1,650 per sq.ft (2024)
• Mannadiamman Koil Street: Rs 1,650 per sq.ft (2024)
• Mannadiamman Koil Cross street: Rs 1,650 per sq.ft (2024)
• Manimegalai Street Cross: Rs 2,750 per sq.ft (2024)
• Manimegalai Street: Rs 2,750 per sq.ft (2024)
• Manikkavasagar Street: Rs 2,750 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 details.

Which Sub Registrar Office covers Maruthi Nagar?

The Velacheri Sub Registrar Office covers Maruthi Nagar. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, in the Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

What land classification does Maruthi Nagar fall under?

Maruthi Nagar is classified as Residential Class II Type - II according to the land classification standards.

How has the guideline value changed over the years?

The guideline value register shows no figures for Maruthi Nagar for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only current figure is Rs 1,650 per sq.ft from the 2024 revision.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 with the same guideline value of Rs 1,650 per sq.ft include Marudhi Street, Mannadiamman Koil Street, and Mannadiamman Koil Cross street.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in Maruthi Nagar.