Guideline Value for Maruthupandiyar Street

Maruthupandiyar Street guideline value

The current guideline value of Maruthupandiyar Street is Rs 2,750 per sq.ft. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Maruthupandiyar Street has changed

The guideline value for Maruthupandiyar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. However, in the following years, the value increased significantly, reaching Rs 2,500 per sq.ft in 2023, and then rising to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Maruthupandiyar Street. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making Maruthupandiyar Street's 2024 figure above that median.

• Maruthuvar Street: Rs 2,750 per sq.ft (2024)
• Maruthi Street: Rs 1,650 per sq.ft (2024)
• Mathavan Naidu Main Road: Rs 1,650 per sq.ft (2024)
• Mathuvar Street: Rs 1,320 per sq.ft (2024)
• Mark Street: Rs 2,750 per sq.ft (2024)
• Mayur Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthupandiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Maruthupandiyar Street?

The Sub Registrar Office that covers Maruthupandiyar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It helps determine the stamp duty and registration fees payable, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the financial implications of property transactions.

Frequently asked questions

What is the current guideline value of Maruthupandiyar Street?

The current guideline value of Maruthupandiyar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What are the other guideline values in Chitlapakkam?

In Chitlapakkam, the guideline values range from Rs 1,100 to Rs 8,800 per sq.ft. Maruthupandiyar Street's value is above the median of Rs 1,650 per sq.ft.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

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

The Tambaram Joint 1 Sub Registrar Office covers Maruthupandiyar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the relevant link.