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 Thelliyaragaram village, under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mayana Salai has changed

The guideline value for Mayana Salai has seen several revisions over the years. In 2007, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, the value then decreased to Rs 670 per sq.ft in 2017. Following this, it rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The register has no figure for this street in 2002 and 2003.

Between the revisions, the changes are notable. From 2007 to 2012, there was a substantial increase of 567%. However, from 2012 to 2017, the value decreased by 33%. The value then surged by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Thelliyaragaram

Thelliyaragaram has 16 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, placing Mayana Salai's 2024 figure below that median.

• Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)
• Kakanji Street: Rs 1,320 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,320 per sq.ft (2024)
• Poonamallee High Road: Rs 3,300 per sq.ft (2024)
• G.S.R.Garden: Rs 2,310 per sq.ft (2024)
• Ramya Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mayana Salai

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 online.

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

The guideline value is a crucial factor during the registration process of property transactions in Thelliyaragaram. It serves as a benchmark for determining the minimum value of property for registration, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a fair price for both parties involved. It is essential for buyers and sellers to 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 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 of Mayana Salai changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with several revisions in between.

What is the land classification for Mayana Salai?

The land classification for Mayana Salai is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Mayana Salai?

The Sub Registrar Office for Mayana Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Mayana Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.