Guideline Value for MARAIMALAI ADIGAL STREET

Maraimalai Adigal Street guideline value

The current guideline value of Maraimalai Adigal Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Maraimalai Adigal Street has changed

The guideline value for Maraimalai Adigal Street has undergone several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it then decreased to Rs 871 per sq.ft in 2017, before rising again to Rs 1,300 per sq.ft in both 2023 and 2024, with no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The substantial rise from 2007 to 2012 was 767%, while the overall change from 2007 to 2024 also reflects a 767% increase. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, making the guideline value of Maraimalai Adigal Street above this median.

• Ma.Po.See. Street: Rs 1,300 per sq.ft (2024)
• Ma.Pa.Sarathi: Rs 700 per sq.ft (2024)
• Marudham Street: Rs 700 per sq.ft (2024)
• Marudhi Street: Rs 1,300 per sq.ft (2024)
• Manikandan Street: Rs 600 per sq.ft (2024)
• Mayar Chitti Babu Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Maraimalai Adigal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your charges using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maraimalai Adigal Street?

The Sub Registrar Office that covers Maraimalai Adigal Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Vengathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value influences the transaction process, as it is used to calculate the applicable fees. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will determine the stamp duty and registration costs.

Frequently asked questions

What is the current guideline value of Maraimalai Adigal Street?

The current guideline value of Maraimalai Adigal Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and returned to Rs 1,300 per sq.ft in both 2023 and 2024.

What are the other streets in Vengathur with their guideline values?

Other streets in Vengathur include Ma.Po.See. Street at Rs 1,300 per sq.ft, Ma.Pa.Sarathi at Rs 700 per sq.ft, and Marudham Street at Rs 700 per sq.ft, among others.

How is the stamp duty calculated for properties in Maraimalai Adigal Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.

Where is the Sub Registrar Office for Maraimalai Adigal Street located?

The Sub Registrar Office for Maraimalai Adigal Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.