Guideline Value for SRI MARUTHI NAGAR

Sri Maruthi Nagar guideline value

The current guideline value of Sri Maruthi Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sri Maruthi Nagar has changed

Over the years, the guideline value for Sri Maruthi Nagar has seen several revisions. The most recent figures show that the 2024 revision maintains a guideline value of Rs 500 per sq.ft, which is the same as the 2023 revision. The 2017 revision recorded a guideline value of Rs 335 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. The 2012 revision also had a guideline value of Rs 500 per sq.ft, reflecting a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 500 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Sri Maruthi Nagar. This lack of data does not provide insight into the historical changes during those years.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with the median value being Rs 500 per sq.ft. The guideline value for Sri Maruthi Nagar aligns with this median.

• SRI Maruthi Nagar Phase I: Rs 500 per sq.ft (2024)
• Sri Mukthi Vinayagar Nagar: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Parvathi Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 500 per sq.ft (2024)
• Sri Devi Karumariyamman Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Maruthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Maruthi Nagar?

Sri Maruthi Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Orathur. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on an official valuation rather than the negotiated sale price.

During registration, the buyer must pay the stamp duty and registration fees based on the higher amount between the guideline value and the sale price. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Sri Maruthi Nagar?

The current guideline value of Sri Maruthi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to 2024, with a notable increase from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023. There are no figures available for the years 2002, 2003, and 2007.

What is the registration office for Sri Maruthi Nagar?

The registration office for Sri Maruthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated in Sri Maruthi Nagar?

Stamp duty in Sri Maruthi Nagar is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.

What are the other streets in Orathur with the same guideline value?

Other streets in Orathur with the same guideline value of Rs 500 per sq.ft include SRI Maruthi Nagar Phase I, Sri Mukthi Vinayagar Nagar, Sri Lakshmi Nagar, Sri Parvathi Amman Nagar, Sri Ganesh Nagar, and Sri Devi Karumariyamman Nagar.