Guideline Value for Maruthy Nagar

Maruthy Nagar guideline value

The current guideline value of Maruthy Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is located in the village of Mangadu -A under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Maruthy Nagar has changed

The guideline value of Maruthy Nagar has undergone several revisions over the years. In 2017, the value was Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, marking a 10% increase from the previous year. The overall increase from 2017 to 2024 is 64%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a significant rise in the guideline value, particularly from 2017 to 2023, which saw a 49% increase.

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 is Rs 1,870 per sq.ft, which is equal to the guideline value of Maruthy Nagar.

• Maruthy Enclave: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees to 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 the stamp duty and registration fee calculator for more accurate calculations based on specific property values.

Which Sub Registrar Office covers Maruthy Nagar?

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

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

The guideline value is a crucial factor in the property registration process in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in a transparent manner. It is essential for buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Maruthy Nagar?

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

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,139 per sq.ft to Rs 1,870 per sq.ft in 2024. This represents an overall increase of 64% over the seven-year period.

What is the classification of land in Maruthy Nagar?

Maruthy Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

The Kunrathur Sub Registrar Office covers Maruthy Nagar and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Maruthy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 18,70,000 would incur a stamp duty of Rs 1,30,900 at 7%.