Guideline Value for Maruthi Nagar

Maruthi Nagar guideline value

The current guideline value of Maruthi Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area 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. The earliest record is from 2002, with a value of Rs 79 per sq.ft. This increased to Rs 110 per sq.ft in 2003, marking a change of +39%. In 2007, the value surged to Rs 200 per sq.ft, reflecting a significant increase of +82%. The 2012 revision showed a drastic rise to Rs 2,200 per sq.ft, which was a remarkable +1000% change. However, this value dropped to Rs 1,474 per sq.ft in 2017, a decrease of -33%. The 2023 revision set the value at Rs 2,200 per sq.ft, which was a substantial increase of +49%. Finally, the current 2024 revision has brought the guideline value to Rs 2,400 per sq.ft, an increase of +9% from the previous year.

It is important to note that there are no figures available for the guideline value of Maruthi Nagar for the years not listed in the revisions.

Guideline values in Thirumullaivoyal

Thirumullaivoyal village has a total of 975 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,400 per sq.ft, which is equal to the current figure for Maruthi Nagar.

• Maruthi Nagar (S.No.149 to 157) AIR Backside: Rs 990 per sq.ft (2024)
• Marshal Nesamani Nagar: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Koil Street(Manikanda Puram): Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 2nd Street: 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 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Maruthi Nagar?

The Maruthi Nagar area falls under 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 Thirumullaivoyal

The guideline value plays a crucial role in property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary taxes are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Maruthi Nagar?

The current guideline value of Maruthi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value of Maruthi Nagar changed over the years?

The guideline value has changed from Rs 79 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of +2938% over the years.

What is the land classification of Maruthi Nagar?

Maruthi Nagar is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Maruthi Nagar?

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

How is stamp duty calculated for properties in Maruthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at a rate of 7%.