Guideline Value for NEW MARUTHI NAGAR

New Maruthi Nagar guideline value

The current guideline value of New Maruthi Nagar is Rs 626 per sq.ft, effective from 1 July 2024. This locality is situated in Kakkalur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of New Maruthi Nagar has changed

Looking at the historical revisions, the guideline value for New Maruthi Nagar has seen several changes. The 2012 revision set the value at Rs 625 per sq.ft, which then decreased to Rs 419 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 49% to Rs 626 per sq.ft, which remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 626 per sq.ft, indicating a stable value over the last few years.

Guideline values in Kakkalur

In Kakkalur village, there are 133 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 626 per sq.ft. New Maruthi Nagar's 2024 figure aligns perfectly with this median.

• Neelorpavamalar Street: Rs 626 per sq.ft (2024)
• Paarijatha Poo Street: Rs 626 per sq.ft (2024)
• Narasimhapuram & Extn: Rs 626 per sq.ft (2024)
• Nanthavanam Street: Rs 626 per sq.ft (2024)
• Paneer Poo Street: Rs 626 per sq.ft (2024)
• Pavala Malli Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in New Maruthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, and the registration fee at 2% would be Rs 12,520, bringing the total costs together to Rs 56,340. 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 detailed calculations.

Which Sub Registrar Office covers New Maruthi Nagar?

The Sub Registrar Office that covers New Maruthi Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kakkalur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two figures is used to determine the applicable stamp duty. This ensures that the transaction is registered fairly and in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of New Maruthi Nagar?

The current guideline value of New Maruthi Nagar is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 626 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 419 per sq.ft in 2017 to Rs 626 per sq.ft in 2023.

What is the land classification for New Maruthi Nagar?

The land classification for New Maruthi Nagar is Residential Class II Type - III, indicating its suitability for residential development.

What are the stamp duty rates applicable in New Maruthi Nagar?

The stamp duty rate in New Maruthi Nagar is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Kakkalur?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations in Kakkalur, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.