Guideline Value for SRI Maruthi Nagar Phase I

SRI Maruthi Nagar Phase I guideline value

The current guideline value of SRI Maruthi Nagar Phase I is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Orathur village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of SRI Maruthi Nagar Phase I has changed

The guideline value for SRI Maruthi Nagar Phase I has seen several revisions over the years. In 2012, the guideline value was set at Rs 500 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 335 per sq.ft. This was a drop of 33%. Following this, the 2023 revision brought the value back to Rs 500 per sq.ft, which was a 49% increase from the 2017 figure. The 2024 revision has maintained this value at Rs 500 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, there has been no net change in the guideline value.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that have a guideline value for 2024, ranging from Rs 335 to Rs 1,700 per sq.ft. The median value among these streets is Rs 500 per sq.ft, which is equal to the current guideline value of SRI Maruthi Nagar Phase I.

• Sri Maruthi Nagar: 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 Phase I

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 at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. 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 details.

Which Sub Registrar Office covers SRI Maruthi Nagar Phase I?

The SRI Maruthi Nagar Phase I is covered by 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 during property registration in Orathur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value ensures that the government receives the appropriate revenue from property transactions.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the applicable fees. This value is essential for both parties to understand the financial implications of the transaction, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of SRI Maruthi Nagar Phase I?

The current guideline value of SRI Maruthi Nagar Phase I 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 since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023 and 2024.

What is the registration office for SRI Maruthi Nagar Phase I?

The registration office for SRI Maruthi Nagar Phase I 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 for properties in SRI Maruthi 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 Rs 500 per sq.ft, the stamp duty would be Rs 35,000.

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 Mukthi Vinayagar Nagar, Sri Lakshmi Nagar, Sri Parvathi Amman Nagar, Sri Ganesh Nagar, and Sri Devi Karumariyamman Nagar.