Guideline Value for MARAIMALAI ADIGALAR STREET (WARD -4)

Maraimalai Adigalar Street (Ward -4) guideline value

The current guideline value for Maraimalai Adigalar Street (Ward -4) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village, under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

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

Over the years, the guideline value for Maraimalai Adigalar Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% rise.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 990 per sq.ft, placing Maraimalai Adigalar Street's 2024 figure above the 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, while the registration fee at 2% would be Rs 44,000, bringing the total fees together 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 the stamp duty and registration fee calculator for more precise 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 Panangottur

When buying or selling property in Panangottur, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and is used as a benchmark for calculating these fees during the registration process.

It is essential to be aware that the registration office will charge the stamp duty based on the higher value between the guideline value and the sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Maraimalai Adigalar Street?

The current guideline value for 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 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,340 per sq.ft in 2017, and Rs 2,000 per sq.ft in 2012, showing a significant rise over the years.

What is the land classification for Maraimalai Adigalar Street?

The land classification for Maraimalai Adigalar Street (Ward -4) is Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be calculated at 7% of this amount.