Guideline Value for MAYANA SALAI

Mayana Salai guideline value

The current guideline value of Mayana Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village under the Neelankarai SRO and is classified as Residential Class II 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 2003, the value was Rs 248 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then surged to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft.

Between the revisions, there have been notable changes. From 2003 to 2007, the value increased by 102%. However, from 2012 to 2017, there was a decrease of 33%. The value then saw a significant increase of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. It is important to note that there is no figure available for the year 2002 for this street.

Guideline values in Uthandi

In Uthandi village, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Mayana Salai is above this median.

• Meenakshi Farm Road & Bay Avenue: Rs 2,800 per sq.ft (2024)
• Manthoppu Salai: Rs 3,300 per sq.ft (2024)
• Manthoppu Garden: Rs 2,200 per sq.ft (2024)
• Manimekalai Garden: Rs 1,100 per sq.ft (2024)
• M.G.Rathinam Chettiar Street: Rs 1,700 per sq.ft (2024)
• Manickam Garden: 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 guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mayana Salai?

The Sub Registrar Office that covers Mayana Salai 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 information.

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

The guideline value is a critical factor when registering property in Uthandi. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the transaction is documented at a recognized value.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. It is essential to be aware of these values 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 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 248 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 787% over the years.

What is the land classification for Mayana Salai?

Mayana Salai is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

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

How is the stamp duty calculated for property 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 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.