Guideline Value for GRAMA MAYANA SALAI

Grama Mayana Salai guideline value

The current guideline value of Grama Mayana Salai in Jelandianpettai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Grama Mayana Salai has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. The value then increased significantly to Rs 1,200 per sq.ft in 2023, marking a 49% rise from 2017. The latest revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase 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. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

Jelandianpettai features a total of 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the guideline value of Grama Mayana Salai below this median.

• Govindhan Nagar: Rs 1,320 per sq.ft (2024)
• Gothavari Street: Rs 1,320 per sq.ft (2024)
• House Of Palisade By Dac: Rs 4,000 per sq.ft (2024)
• G.M.Nagar: Rs 2,750 per sq.ft (2024)
• Indira Gandhi Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Grama Mayana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Grama Mayana Salai?

The Sub Registrar Office that covers Grama Mayana Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Jelandianpettai, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

Frequently asked questions

What is the current guideline value of Grama Mayana Salai?

The current guideline value of Grama Mayana Salai is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then back to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 increased it to Rs 1,320 per sq.ft.

What is the classification of Grama Mayana Salai?

Grama Mayana Salai is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Grama Mayana Salai?

The Sub Registrar Office for Grama Mayana Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Grama Mayana Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.