Guideline Value for Maruthiram Nagar Extension

Maruthiram Nagar Extension guideline value

The current guideline value for Maruthiram Nagar Extension is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this region is Residential Class I Type - II.

How the guideline value of Maruthiram Nagar Extension has changed

The guideline value for Maruthiram Nagar Extension has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 79 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a 27% rise. The value further escalated to Rs 400 per sq.ft in 2007, representing a significant increase of 300%. In 2012, the guideline value reached Rs 1,000 per sq.ft, which was a 150% increase from the previous revision. However, in 2017, it dropped to Rs 670 per sq.ft, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose to Rs 1,000 per sq.ft, showing a notable increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1292%.

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. The median guideline value for these streets is Rs 1,300 per sq.ft, placing Maruthiram Nagar Extension's 2024 figure below that median.

• Maruthiram Nagar: Rs 1,100 per sq.ft (2024)
• MaruthiRam Nagar Main Road (Maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Maruthi street(Iyappan nagar): Rs 1,700 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 Maruthiram Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total 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 the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maruthiram Nagar Extension?

The Sub Registrar Office that covers Maruthiram Nagar Extension 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 details.

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

The guideline value plays a crucial role in property transactions in Ayappakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the government.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This practice helps maintain transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value for Maruthiram Nagar Extension?

The current guideline value for Maruthiram Nagar Extension 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 changed significantly from Rs 79 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 1292%.

What are the other streets in Ayappakkam with their guideline values?

Other streets in Ayappakkam include Maruthiram Nagar and MaruthiRam Nagar Main Road, both at Rs 1,100 per sq.ft, while Maruthi street (Iyappan nagar) is at Rs 1,700 per sq.ft.

What is the stamp duty rate for properties in Maruthiram Nagar Extension?

The stamp duty rate for properties in Maruthiram Nagar Extension is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Maruthiram Nagar Extension located?

The Sub Registrar Office for Maruthiram Nagar Extension is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai.