Guideline Value for INDU MAYANA SALAI EXTENSION

Indu Mayana Salai Extension guideline value

The current guideline value of Indu Mayana Salai Extension is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Indu Mayana Salai Extension has changed

The guideline value for Indu Mayana Salai Extension has seen significant changes over the years. In 2017, the guideline value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, which is a 13% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 69%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Indu Mayana Salai Extension's 2024 figure below that median.

• Indu Mayana Pathai: Rs 1,700 per sq.ft (2024)
• Iskon Properties: Rs 2,800 per sq.ft (2024)
• Ismail Street: Rs 1,700 per sq.ft (2024)
• Jahir Hussain 1st Street: Rs 1,700 per sq.ft (2024)
• Jahir Hussain 2nd Street: Rs 1,700 per sq.ft (2024)
• Jahir Hussain 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Indu Mayana Salai Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Indu Mayana Salai Extension?

The Indu Mayana Salai Extension falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When selling or buying property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Indu Mayana Salai Extension?

The current guideline value of Indu Mayana Salai Extension is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, marking a total increase of 69% over the years.

What is the land classification for Indu Mayana Salai Extension?

Indu Mayana Salai Extension is classified under Residential Class IV Type - I land classification.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Indu Mayana Salai Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.