Guideline Value for Maruthi Street (8)

Maruthi Street (8) guideline value

The current guideline value of Maruthi Street (8) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Maruthi Street (8) has changed

Over the years, the guideline value of Maruthi Street (8) has seen significant changes. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Maruthi Street (8) below this median.

• Maruthi Street (15): Rs 1,100 per sq.ft (2024)
• Maruthi Street Andal Nagar: Rs 1,320 per sq.ft (2024)
• Masilamani Street: Rs 1,100 per sq.ft (2024)
• Marudhu Pandi Street: Rs 1,100 per sq.ft (2024)
• Marudhupandiar Street: Rs 1,100 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Street (8)

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 Street (8)?

The Sub Registrar Office covering Maruthi Street (8) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pozhichalur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Maruthi Street (8)?

The current guideline value of Maruthi Street (8) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, an overall increase of 64% over this period. The value rose from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024, a 10% increase.

What are the other streets in Pozhichalur with similar guideline values?

Other streets in Pozhichalur with a 2024 guideline value of Rs 1,100 per sq.ft include Maruthi Street (15), Masilamani Street, Marudhu Pandi Street, Marudhupandiar Street, and Mariyamman Koil Street. Maruthi Street Andal Nagar has a higher value of Rs 1,320 per sq.ft.

What is the registration fee for buying property in Maruthi Street (8)?

The registration fee for buying property in Maruthi Street (8) is calculated based on the guideline value. For a property valued at Rs 11,00,000, the registration fee would be Rs 22,000 at 2%.

Where can I find the Sub Registrar Office for Maruthi Street (8)?

The Sub Registrar Office for Maruthi Street (8) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the relevant website.