Guideline Value for MA.PO.SEE. STREET EXTENSION

Ma.Po.See. Street Extension guideline value

The current guideline value of Ma.Po.See. Street Extension is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ma.Po.See. Street Extension has changed

Looking at the revisions, the guideline value for Ma.Po.See. Street Extension has seen several changes over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and finally, the current value is Rs 2,800 per sq.ft from the 2024 revision. There are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the value dropped by 33%, but it increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 12% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%.

Guideline values in Palavakkam

In Palavakkam, there are 349 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 in this area is Rs 3,300 per sq.ft, which means that Ma.Po.See. Street Extension's current guideline value is below the median.

• Ma.Po.See. Street(Near Ecr): Rs 2,800 per sq.ft (2024)
• Marika Nagar: Rs 6,100 per sq.ft (2024)
• Maniyammai St,: Rs 2,200 per sq.ft (2024)
• Manimegalai Street: Rs 1,700 per sq.ft (2024)
• Masilamani Naicker Street: Rs 2,800 per sq.ft (2024)
• Mayor Stalin Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ma.Po.See. Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ma.Po.See. Street Extension?

The Ma.Po.See. Street Extension is covered by 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 Palavakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures transparency and consistency in property transactions, helping both buyers and sellers understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Ma.Po.See. Street Extension?

The current guideline value for Ma.Po.See. Street Extension is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Ma.Po.See. Street Extension?

Ma.Po.See. Street Extension is classified as Residential Class III Type - I.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations for Ma.Po.See. Street Extension?

The Neelankarai Sub Registrar Office handles property registrations for Ma.Po.See. Street Extension, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.