Guideline Value for MARAIMALAI ADIGALAR STREET (WARD -4)

Maraimalai Adigalar Street (Ward -4) guideline value

The current guideline value of Maraimalai Adigalar Street (Ward -4) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Maraimalai Adigalar Street (Ward -4) has changed

The guideline value for Maraimalai Adigalar Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO that carry a 2024 guideline value. The values range from Rs 440 to Rs 3,612 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Maraimalai Adigalar Street is above this median.

• Manonmani Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Manonmanian Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Marudhiruvar Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Manickavasagar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Maraimalai Adigalar Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Maraimalai Adigalar Street (Ward -4)?

The Sub Registrar Office that covers Maraimalai Adigalar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable fees. This ensures that the registration process adheres to the established norms set by the Registration Department.

Frequently asked questions

What is the current guideline value of Maraimalai Adigalar Street?

The current guideline value of Maraimalai Adigalar Street (Ward -4) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

For a property valued at Rs 22,00,000, the stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% amounts to Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for this street?

The Chengleput Joint II Sub Registrar Office handles registrations for Maraimalai Adigalar Street (Ward -4), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the fees are calculated based on the higher of the guideline value or the sale price.