Guideline Value for Maruthi Street /Krishna Nagar

Maruthi Street /Krishna Nagar guideline value

The current guideline value of Maruthi Street /Krishna Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Maruthi Street /Krishna Nagar has changed

The guideline value for Maruthi Street /Krishna Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value further escalated to Rs 570 per sq.ft in 2007, reflecting a substantial increase of 152% over the previous revision. By 2017, the guideline value had reached Rs 1,541 per sq.ft, which was a remarkable 170% increase from 2007. The 2023 revision set the value at Rs 2,300 per sq.ft, showing a 49% rise from 2017.

The most recent revision in 2024 has established the guideline value at Rs 2,530 per sq.ft, which is a 10% increase from the previous year. It is important to note that there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, positioning Maruthi Street /Krishna Nagar above that median.

• Maruthi Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• Maruthupandiyar Street /Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Masooran Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Masthan Sahib Street / Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Masthan Sherif Street / Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Masuran Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Street /Krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total cost for stamp duty and registration fee would be Rs 2,27,700. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maruthi Street /Krishna Nagar?

The Sub Registrar Office that covers Maruthi Street /Krishna Nagar 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 additional information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the property transaction. Buyers and sellers must be aware that the guideline value can influence the overall cost of the transaction.

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 and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Maruthi Street /Krishna Nagar?

The current guideline value of Maruthi Street /Krishna Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, representing an overall increase of 1165% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal is Rs 2,090 per sq.ft, which means Maruthi Street /Krishna Nagar's value is above this median.

What are the stamp duty and registration fees for property in Maruthi Street /Krishna Nagar?

For a 1,000 sq.ft plot, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700 for both.

Which office should I visit for registration related to Maruthi Street /Krishna Nagar?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, is responsible for registration related to Maruthi Street /Krishna Nagar.