Guideline Value for Maruthiram Nagar

Maruthiram Nagar guideline value

The current guideline value of Maruthiram Nagar 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 street is Residential Class I Type - II.

How the guideline value of Maruthiram Nagar has changed

Since the 2002 revision, the guideline value for Maruthiram Nagar has seen significant changes. In 2002, the guideline value was Rs 79 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 27% rise. The value continued to rise, reaching Rs 400 per sq.ft in 2007, a substantial increase of 300%. By 2012, the guideline value had risen to Rs 1,000 per sq.ft, reflecting a 150% increase from the previous revision. However, it then decreased to Rs 670 per sq.ft in 2017, representing a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 1,000 per sq.ft, an increase of 49%. The most recent revision in 2024 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's 2024 figure below that median.

• Maruthiram Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 details.

Which Sub Registrar Office covers Maruthiram Nagar?

The Sub Registrar Office that covers Maruthiram Nagar 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 further assistance.

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. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to calculate the financial obligations associated with property transfers.

When a property is sold, the guideline value is assessed to establish the minimum value for which the property can be registered. This ensures that the transaction reflects a fair value for tax purposes and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Maruthiram Nagar?

The current guideline value of Maruthiram Nagar 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, marking an overall increase of 1292%.

What factors influence the guideline value in Ayappakkam?

The guideline value is influenced by various factors, including land classification, location, and revisions made by the Registration Department.

What are the stamp duty rates applicable in Maruthiram Nagar?

The stamp duty rate in Maruthiram Nagar is 7% of the guideline value, while the registration fee is 2% of the guideline value.

Where can I find more information about the Sub Registrar Office?

More information about the Sub Registrar Office can be found by visiting the Ambattur Sub Registrar Office at Villivakkam Panchayat Union Board or by using the find your SRO link for assistance.