Guideline Value for MAYANA SALAI

Mayana Salai guideline value

The current guideline value of Mayana Salai is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Mayana Salai has changed

The guideline value for Mayana Salai has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure was revised to Rs 670 per sq.ft in 2017, marking a decrease of 33%. However, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then further to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 show no figures for Mayana Salai in the register.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing Mayana Salai's 2024 figure below that median.

• Marvel Riverview County 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mayana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee, charged at 2%, would be Rs 22,000, bringing the total cost to Rs 99,000. Note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mayana Salai?

The Sub Registrar Office that covers Mayana Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manapakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Mayana Salai?

The current guideline value of Mayana Salai is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the classification of land in Mayana Salai?

The land classification for Mayana Salai is Residential Class V Type - III, indicating its suitability for residential purposes.

What are the guideline values of other streets in Manapakkam?

Other streets in Manapakkam have varying guideline values, with some streets like Marvel Riverview County 7th Cross Street valued at Rs 3,300 per sq.ft in 2024.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees by using the stamp duty and registration fee calculator.