Guideline Value for MAMANNAR MARUTHUPANDIAR NAGAR

Mamannar Maruthupandiar Nagar guideline value

The current guideline value of Mamannar Maruthupandiar Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vijayanallur village, under the jurisdiction of the Redhills SRO. The land classification for this locality is Residential Class III Type - I.

How the guideline value of Mamannar Maruthupandiar Nagar has changed

The guideline value for Mamannar Maruthupandiar Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 400 per sq.ft. This value remained unchanged until the 2017 revision, where it decreased to Rs 268 per sq.ft, marking a decline of 33%. In 2023, the guideline value increased to Rs 400 per sq.ft, and then further rose to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 540 per sq.ft, placing Mamannar Maruthupandiar Nagar's 2024 figure below that median.

• Maruthupandiar Nagar: Rs 550 per sq.ft (2024)
• Kalpaga Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Kalikambal Nagar: Rs 440 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 550 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Gnt Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mamannar Maruthupandiar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mamannar Maruthupandiar Nagar?

The Sub Registrar Office that covers Mamannar Maruthupandiar Nagar is the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vijayanallur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are recorded at a fair value as per the government norms.

When buying or selling property, it is essential to consider the guideline value, as it serves as a benchmark for the transaction value. The registration process will require adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mamannar Maruthupandiar Nagar?

The current guideline value of Mamannar Maruthupandiar Nagar is Rs 440 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 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Mamannar Maruthupandiar Nagar?

The land classification for Mamannar Maruthupandiar Nagar is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Mamannar Maruthupandiar Nagar?

The Sub Registrar Office for Mamannar Maruthupandiar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property in Mamannar Maruthupandiar Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 440 per sq.ft, the stamp duty would be Rs 30,800.