Guideline Value for Maruthupandi Street, Ganapathy Nagar

Maruthupandi Street, Ganapathy Nagar guideline value

The current guideline value of Maruthupandi Street, Ganapathy Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Maruthupandi Street, Ganapathy Nagar has changed

The guideline value of Maruthupandi Street has undergone several revisions over the years. The 2017 revision set the value at Rs 2,680 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value further increase to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current figure for Maruthupandi Street.

• Maruthupandi Street: Rs 4,400 per sq.ft (2024)
• Mathavamani Avenue: Rs 4,950 per sq.ft (2024)
• Mathiyazhagan Street: Rs 3,850 per sq.ft (2024)
• Mathiyazhagan Street Lane I: Rs 3,850 per sq.ft (2024)
• Mathiyazhagan Street Lane II: Rs 3,850 per sq.ft (2024)
• Mathiyazhagan Street Lane III: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthupandi Street, Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 precise calculations.

Which Sub Registrar Office covers Maruthupandi Street, Ganapathy Nagar?

The Sub Registrar Office that covers Maruthupandi Street, Ganapathy Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of Maruthupandi Street?

The current guideline value of Maruthupandi Street, Ganapathy Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 64% during this period.

What is the stamp duty rate for properties in Maruthupandi Street?

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

Where is the Sub Registrar Office for Maruthupandi Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Maruthupandi Street?

The land classification for Maruthupandi Street, Ganapathy Nagar is Residential Class II Type - II.