Guideline Value for MAIYUR PURAM

Maiyur Puram guideline value

The current guideline value of Maiyur Puram, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Maiyur Puram has changed

The guideline value of Maiyur Puram has undergone several revisions over the years. In 2003, the guideline value was Rs 140 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007. The following revision in 2012 saw the value rise to Rs 2,500 per sq.ft, but it then dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 2,800 per sq.ft.

Examining the changes, from 2003 to 2007, the value rose by 257%. The increase from 2007 to 2012 was 400%. However, the value saw a decrease of 33% from 2012 to 2017. A significant increase of 49% was noted from 2017 to 2023. Finally, the guideline value increased by 12% from 2023 to 2024.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Maiyur Puram below this median.

• Mahathma Gandhi Street: Rs 4,400 per sq.ft (2024)
• Mangalambigai @ Mangalapuri Nagar: Rs 3,300 per sq.ft (2024)
• Mangalambigai Nagar: Rs 3,900 per sq.ft (2024)
• MANGALAMBIGAI NAGAR 3rd STREET: Rs 3,900 per sq.ft (2024)
• MANGALAMBIGAI NAGAR 4th STREET: Rs 3,900 per sq.ft (2024)
• MANGALAMBIGAI NAGAR 5th STREET: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Maiyur Puram

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 be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Maiyur Puram?

The Maiyur Puram area 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. To find your specific SRO, you can find your SRO here.

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

The guideline value plays a crucial role in property transactions in Okkiyamthuraipakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. These fees are calculated based on the guideline value or the sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Maiyur Puram?

The current guideline value of Maiyur Puram 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 140 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, with several revisions in between.

What is the land classification for Maiyur Puram?

The land classification for Maiyur Puram is Residential Class II Type - II.

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 do I calculate stamp duty and registration fees in Maiyur Puram?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.