Guideline Value for Abdul Marakkayar Street

Abdul Marakkayar Street guideline value

The current guideline value of Abdul Marakkayar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Abdul Marakkayar Street has changed

Over the years, the guideline value of Abdul Marakkayar Street has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 275%. However, the value then decreased to Rs 1,005 per sq.ft in 2017, reflecting a drop of 33%. The 2023 revision brought the value back up to Rs 1,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 1,650 per sq.ft, representing a 10% increase.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. The revisions for 2002 and 2003 do not have figures recorded for this street.

Guideline values in Naravarikuppam

Naravarikuppam village has a total of 112 streets listed under the Redhills SRO, with the 2024 guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Abdul Marakkayar Street.

• Angamman Kovil Street: Rs 1,870 per sq.ft (2024)
• Anna Street: Rs 1,870 per sq.ft (2024)
• Arignar Anna Street: Rs 1,870 per sq.ft (2024)
• Arignar Anna Street Lane: Rs 1,870 per sq.ft (2024)
• Arignar Anna Street (Park Street): Rs 1,870 per sq.ft (2024)
• Aruljothi Vallalar Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Marakkayar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Please 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 Abdul Marakkayar Street?

The Sub Registrar Office that covers Abdul Marakkayar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller adhere to the legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Abdul Marakkayar Street?

The current guideline value of Abdul Marakkayar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office is responsible for Abdul Marakkayar Street?

The Redhills Sub Registrar Office is responsible for Abdul Marakkayar Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Abdul Marakkayar Street?

Abdul Marakkayar Street is classified as Residential Class II Type - I.