Guideline Value for MAMARATHU GATE UNION ROAD (PER)

Mamarathu Gate Union Road (Per) guideline value

The current guideline value for Mamarathu Gate Union Road (Per) is Rs 990 per sq.ft, effective from 1 July 2024. This road is located in Ninna Karai village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Mamarathu Gate Union Road (Per) has changed

The guideline value for Mamarathu Gate Union Road (Per) has seen several revisions over the years. In 2012, the value was Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and then rose again to Rs 990 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Mamarathu Gate Union Road (Per) below that median.

• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Manickavasagar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Malar Aveunue (N): Rs 660 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Main Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Manonmanian Street (Ward -8): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Mamarathu Gate Union Road (Per)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mamarathu Gate Union Road (Per)?

The Sub Registrar Office that covers Mamarathu Gate Union Road (Per) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ninna Karai. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that the guideline value is set by the government and can vary from one street to another.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Mamarathu Gate Union Road (Per)?

The current guideline value for Mamarathu Gate Union Road (Per) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Mamarathu Gate Union Road (Per)?

Mamarathu Gate Union Road (Per) is classified as Residential Class I Type - II.

What are the stamp duty rates for properties in Ninna Karai?

The stamp duty rate for properties in Ninna Karai is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mamarathu Gate Union Road (Per)?

The Sub Registrar Office for Mamarathu Gate Union Road (Per) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.