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 Sattamangalam village and falls under the Chengleput Joint II SRO, 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 most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, marking a significant increase of 49% from the previous 2023 figure. The 2012 revision also had a value of Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision.

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

Guideline values in Sattamangalam

In Sattamangalam, there are a total of 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Maraimalai Adigalar Street's 2024 figure 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)
• Maruthi Nagar Annexe: Rs 660 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, leading to a total of Rs 1,98,000 for both fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on calculating these fees.

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 details.

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

The guideline value is a crucial factor in property transactions in Sattamangalam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees during the sale or purchase of property.

When engaging in a property transaction, buyers and sellers must be aware that the guideline value is considered by the registration office, ensuring that all transactions are recorded at a fair value. This helps maintain transparency and accountability in the real estate market.

Frequently asked questions

What is the current guideline value for Maraimalai Adigalar Street (Ward -4)?

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 significantly, from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

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

Other streets in Sattamangalam include Manonmani Street at Rs 1,320 per sq.ft, Manonmanian Street at Rs 1,760 per sq.ft, and Manimegalai Street at Rs 1,320 per sq.ft, among others.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Maraimalai Adigalar Street (Ward -4)?

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