Guideline Value for MARIAMMAN NAGAR

Mariamman Nagar guideline value

The current guideline value of Mariamman Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Mariamman Nagar has changed

The guideline value for Mariamman Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017, before increasing to Rs 600 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 660 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, and Mariamman Nagar's guideline value is above this median.

• Mahalakshmi Nagar: Rs 660 per sq.ft (2024)
• Lake View Club Phase III & IV: Rs 330 per sq.ft (2024)
• Lakeview Club Phase-II: Rs 330 per sq.ft (2024)
• Lake View Club: Rs 330 per sq.ft (2024)
• Muthu Estate: Rs 550 per sq.ft (2024)
• Kumaran Nagr Part - II: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Mariamman Nagar

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariamman Nagar?

Mariamman Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Pammathukulam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government collects appropriate revenue from property sales.

When buying or selling property, the guideline value must be considered, as it affects the total cost involved in the transaction. Buyers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mariamman Nagar?

The current guideline value of Mariamman Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the median guideline value in Pammathukulam?

The median guideline value in Pammathukulam is Rs 550 per sq.ft, with Mariamman Nagar's value being above this median.

What are the stamp duty and registration fees for a property in Mariamman Nagar?

For a property valued at Rs 6,60,000, the stamp duty is Rs 46,200 and the registration fee is Rs 13,200, totaling Rs 59,400.

Which office should I contact for property registration in Mariamman Nagar?

The Redhills Sub Registrar Office covers Mariamman Nagar. It is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.