Guideline Value for SRI MADHU NAGAR PHASE -I

Sri Madhu Nagar Phase -I guideline value

The current guideline value for Sri Madhu Nagar Phase -I is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Marutham village under the Walajabad SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Madhu Nagar Phase -I has changed

The guideline value for Sri Madhu Nagar Phase -I has seen several revisions over the years. In 2012, the guideline value was set at Rs 150 per sq.ft. This remained unchanged in the subsequent revision in 2017, where it was revised to Rs 100 per sq.ft, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased by 50% to Rs 150 per sq.ft. The current revision in 2024 maintains this value at Rs 150 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Hence, the changes in guideline value are only reflected from 2012 onwards.

Guideline values in Marutham

In Marutham village, there are 8 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value for Sri Madhu Nagar Phase -I is equal to this median.

• Sumathi Ammal Nagar: Rs 300 per sq.ft (2024)
• Sharon Nagar: Rs 150 per sq.ft (2024)
• Thirupathy Nagar: Rs 100 per sq.ft (2024)
• Thirupathy Nagar Extension: Rs 300 per sq.ft (2024)
• Unnamed Layout: Rs 300 per sq.ft (2024)
• Uvs Real Estates Private Limited: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Madhu Nagar Phase -I

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Madhu Nagar Phase -I?

The Sub Registrar Office that covers Sri Madhu Nagar Phase -I is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Marutham. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a property transaction, the guideline value is assessed to ensure compliance with local regulations. This value helps in establishing transparency in transactions and ensures that the correct fees are paid based on the property's worth.

Frequently asked questions

What is the current guideline value of Sri Madhu Nagar Phase -I?

The current guideline value of Sri Madhu Nagar Phase -I is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then increased to Rs 150 per sq.ft in 2023, and remains at Rs 150 per sq.ft in 2024.

Which Sub Registrar Office covers Sri Madhu Nagar Phase -I?

The Walajabad Sub Registrar Office covers Sri Madhu Nagar Phase -I, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Madhu Nagar Phase -I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 13,500.

What are the other streets in Marutham with their guideline values?

Other streets in Marutham include Sumathi Ammal Nagar at Rs 300 per sq.ft, Sharon Nagar at Rs 150 per sq.ft, Thirupathy Nagar at Rs 100 per sq.ft, Thirupathy Nagar Extension at Rs 300 per sq.ft, Unnamed Layout at Rs 300 per sq.ft, and Uvs Real Estates Private Limited at Rs 150 per sq.ft.