Guideline Value for Maruthupandiar Nagar

Maruthupandiar Nagar guideline value

The current guideline value of Maruthupandiar Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vijayanallur village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Maruthupandiar Nagar has changed

The guideline value of Maruthupandiar Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The value rose significantly to Rs 500 per sq.ft in 2023, and most recently, it has increased to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 83%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with the median being Rs 540 per sq.ft. Maruthupandiar Nagar's current guideline value is above this median.

• Mamannar Maruthupandiar Nagar: Rs 440 per sq.ft (2024)
• Kalpaga Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Kalikambal Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 550 per sq.ft (2024)
• Gnt Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthupandiar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 Maruthupandiar Nagar?

The Sub Registrar Office covering Maruthupandiar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vijayanallur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is used to determine the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maruthupandiar Nagar?

The current guideline value of Maruthupandiar Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the registration office for Maruthupandiar Nagar?

The registration office for Maruthupandiar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Maruthupandiar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.

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

Other streets in Vijayanallur include Mamannar Maruthupandiar Nagar at Rs 440 per sq.ft, Kalpaga Nagar Annexe at Rs 2,200 per sq.ft, and several others, with values ranging from Rs 440 to Rs 2,200 per sq.ft.