Guideline Value for Maruthuvar Street

Maruthuvar Street guideline value

The current guideline value of Maruthuvar Street in Chitlapakkam village is Rs 2,750 per sq.ft, effective from the 2024 revision. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Maruthuvar Street has changed

The guideline value for Maruthuvar Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Maruthuvar Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Maruthuvar Street's 2024 figure above this median.

• Maruthupandiyar 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 Maruthuvar 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, making the total charges 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maruthuvar Street?

The Sub Registrar Office that covers Maruthuvar 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 plays a crucial role in property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers must be aware that the guideline value is often considered the baseline for these calculations.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both buyers and sellers to understand how this value impacts their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Maruthuvar Street?

The current guideline value of Maruthuvar Street is Rs 2,750 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the classification of Maruthuvar Street?

Maruthuvar Street is classified as Residential Class I Type - II under the guideline value register.

Which Sub Registrar Office covers this street?

The Tambaram Joint 1 Sub Registrar Office covers Maruthuvar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties on Maruthuvar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,92,500.