Guideline Value for Sri Maruthi Nagar

Sri Maruthi Nagar guideline value

The current guideline value of Sri Maruthi Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Sri Maruthi Nagar has changed

The guideline value for Sri Maruthi Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 404 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012. This was followed by a decrease to Rs 938 per sq.ft in 2017, before rising sharply to Rs 1,800 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 390%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value is Rs 1,980 per sq.ft, which is the same as the guideline value for Sri Maruthi Nagar.

• Sri Kumarasamy Nagar: Rs 2,130 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,980 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 1,980 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 1,980 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,980 per sq.ft (2024)
• Sri Sayee Nagar Extension: Rs 2,090 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total fees together Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sri Maruthi Nagar?

The Sub Registrar Office that covers Sri Maruthi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chikkarayapuram. It serves as the basis for calculating the stamp duty and registration fees that must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Sri Maruthi Nagar?

The current guideline value of Sri Maruthi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 404 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 390% over this period.

What are the stamp duty and registration fees in Sri Maruthi Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations in Sri Maruthi Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Sri Maruthi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sri Maruthi Nagar?

The land classification for Sri Maruthi Nagar is Mixed Special Type - I, which is relevant for determining the guideline value and other regulatory aspects.