Guideline Value for Maruthi Street

Maruthi Street guideline value

The current guideline value of Maruthi Street in Ambattur village, under the Ambattur SRO, is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Maruthi Street has changed

The guideline value for Maruthi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,700 per sq.ft, which was a decrease of 33% from Rs 2,479 per sq.ft in the 2017 revision. The value remained at Rs 3,700 per sq.ft until the 2023 revision, which increased it to Rs 3,700 per sq.ft again. Following this, the 2024 revision raised the value to Rs 4,000 per sq.ft, marking an increase of 8% from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value of Maruthi Street is above this median.

• Maya Street: Rs 4,000 per sq.ft (2024)
• Manthopu Colony: Rs 2,500 per sq.ft (2024)
• Manika Vinayagar Koil St. (Ramapuram): Rs 3,600 per sq.ft (2024)
• Menan Street: Rs 4,000 per sq.ft (2024)
• Manganath Street (Manjunathan Street): Rs 3,600 per sq.ft (2024)
• Mangalapuram Thiru-vi-ka Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, totaling Rs 3,60,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Maruthi Street?

The Sub Registrar Office that covers Maruthi Street is 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 details.

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

The guideline value is a crucial factor when registering a property in Ambattur. It determines the minimum value at which a property can be registered, influencing the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration norms.

Frequently asked questions

What is the current guideline value of Maruthi Street?

The current guideline value of Maruthi Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2023 to Rs 4,000 per sq.ft in 2024, an increase of 8%. It was Rs 2,479 per sq.ft in 2017, which means there was a 49% increase from 2017 to 2023.

What is the land classification of Maruthi Street?

Maruthi Street is classified as Residential Special Type - II, indicating its designation for residential use.

Where is the Ambattur Sub Registrar Office located?

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

How is stamp duty calculated for property in Maruthi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000.