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 Ninna Karai 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 undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision saw an increase to Rs 2,000 per sq.ft, and the latest 2024 revision further raised it to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 in this area is Rs 1,100 per sq.ft, placing the 2024 figure for Maraimalai Adigalar Street above this median.

• Manonmani Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Manonmanian Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Marudhiruvar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Manickavasagar Street (Ward -6): Rs 1,321 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Ninna Karai

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented appropriately.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. Buyers should be aware that these fees are charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

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 back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Maraimalai Adigalar Street?

Maraimalai Adigalar Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the other guideline values in Ninna Karai?

The guideline values for other streets in Ninna Karai vary, with figures ranging from Rs 440 to Rs 3,500 per sq.ft. The median value is Rs 1,100 per sq.ft, which positions Maraimalai Adigalar Street above this median.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.