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 Peramanoor village under the Chengleput Joint II SRO, and it 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 revision is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased significantly to Rs 2,000 per sq.ft in 2023, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the revisions, the changes were notable. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO with a guideline value for 2024 ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Maraimalai Adigalar Street's 2024 value 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 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 essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. The registration office will use the guideline value or the sale price, whichever is higher, to assess the fees due at the time of registration.

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 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 of Maraimalai Adigalar Street?

Maraimalai Adigalar Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,98,000.

Where is the Sub Registrar Office located for this street?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration for Maraimalai Adigalar Street.