Guideline Value for Maruthi street(Iyappan nagar)

Maruthi street(Iyappan nagar) guideline value

The current guideline value of Maruthi street(Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Maruthi street(Iyappan nagar) has changed

The guideline value of Maruthi street(Iyappan nagar) has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value dropped to Rs 1,072 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 1,600 per sq.ft in 2023, showing a 49% rise, and has now reached Rs 1,700 per sq.ft in 2024, which is a 6% increase from the previous year.

It is important to note that the guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. Maruthi street(Iyappan nagar) has a guideline value above this median.

• MaruthiRam Nagar Main Road (Maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Maruthiram Nagar Extension: Rs 1,100 per sq.ft (2024)
• Maruthiram Nagar: Rs 1,100 per sq.ft (2024)
• Mannady Street: Rs 880 per sq.ft (2024)
• Mannady Lane: Rs 880 per sq.ft (2024)
• M.G.R. Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthi street(Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maruthi street(Iyappan nagar)?

The Sub Registrar Office that covers Maruthi street(Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the actual sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately and fairly.

Frequently asked questions

What is the current guideline value of Maruthi street(Iyappan nagar)?

The current guideline value of Maruthi street(Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking a total increase of 325% over the years.

What is the land classification of Maruthi street(Iyappan nagar)?

Maruthi street(Iyappan nagar) is classified as Residential Special Type - II.

What are the stamp duty rates for properties in Ayappakkam?

The stamp duty rate for properties in Ayappakkam is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Maruthi street(Iyappan nagar)?

The Sub Registrar Office for Maruthi street(Iyappan nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.