Guideline Value for Maruthy Enclave

Maruthy Enclave guideline value

The current guideline value of Maruthy Enclave is Rs 1,870 per sq.ft, effective from 1 July 2024. This locality is situated in Mangadu -A village, under the Kunrathur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Maruthy Enclave has changed

Since the 2017 revision, the guideline value has seen significant changes. The 2017 revision recorded a value of Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in 2023, marking a rise of 49%. The latest revision in 2024 has further increased this value to Rs 1,870 per sq.ft, a change of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, which is equal to the current guideline value of Maruthy Enclave.

• Maruthy Nagar: Rs 1,870 per sq.ft (2024)
• Masilamani Nagar: Rs 1,870 per sq.ft (2024)
• Masilamani Nagar Annexe: Rs 1,480 per sq.ft (2024)
• Mariamman koil Street: Rs 1,980 per sq.ft (2024)
• Mannarsamy koil Street: Rs 1,980 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Maruthy Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, while the registration fee at 2% would be Rs 37,400. Together, these fees total Rs 1,68,300. 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 precise calculations.

Which Sub Registrar Office covers Maruthy Enclave?

The Sub Registrar Office that covers Maruthy Enclave is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role during the registration process of property transactions in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Maruthy Enclave?

The current guideline value of Maruthy Enclave is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Maruthy Enclave?

Maruthy Enclave is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty rates for property in Maruthy Enclave?

The stamp duty for property transactions in Maruthy Enclave is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Maruthy Enclave?

The Sub Registrar Office for Maruthy Enclave is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all property registrations in the area.