Guideline Value for MAYANA PATHAI

Mayana Pathai guideline value

The current guideline value of Mayana Pathai is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO. The land classification is Residential Class IV Type - I.

How the guideline value of Mayana Pathai has changed

In the 2017 revision, the guideline value for Mayana Pathai was Rs 1,005 per sq.ft. With the 2024 revision, the value increased to Rs 1,700 per sq.ft, marking a significant change of +69% from the 2017 figure. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

The increase from Rs 1,005 to Rs 1,700 indicates a substantial rise in the guideline value over the years. The current value is now set at Rs 1,700 per sq.ft as per the latest revision.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Mayana Pathai is below this median.

• Me.Aa.Vaidyalingam Street: Rs 2,200 per sq.ft (2024)
• Medavakkam Road: Rs 7,100 per sq.ft (2024)
• Medavakkam Road Cross Street: Rs 7,100 per sq.ft (2024)
• Mark Garden: Rs 1,700 per sq.ft (2024)
• Marbhi Street: Rs 1,700 per sq.ft (2024)
• M.G.R. 10th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Mayana Pathai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 Mayana Pathai?

The Sub Registrar Office that covers Mayana Pathai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the applicable duties, which are charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mayana Pathai?

The current guideline value of Mayana Pathai is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft, representing a change of +69%.

Are there any revisions without figures for Mayana Pathai?

Yes, the register has no figures for Mayana Pathai for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, while Mayana Pathai's value is below this median.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.