Guideline Value for MAYAR CHITTI BABU STREET

Mayar Chitti Babu Street guideline value

The current guideline value of Mayar Chitti Babu Street is Rs 700 per sq.ft. This street is located in Vengathur village, under the Manavalanagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mayar Chitti Babu Street has changed

The guideline value for Mayar Chitti Babu Street has seen several revisions over the years. In 2007, the value was Rs 125 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, in 2017, the value decreased to Rs 469 per sq.ft before rising again to Rs 700 per sq.ft in both 2023 and 2024. There are no figures available for the revisions in 2002 and 2003.

From 2017 to 2023, the value increased by 49%. The substantial increase from 2007 to 2012 was 460%, but the value then decreased by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 460%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Mayar Chitti Babu Street's 2024 value below that median.

• Marudhi Street: Rs 1,300 per sq.ft (2024)
• Marudham Street: Rs 700 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 1,300 per sq.ft (2024)
• Ma.Po.See. Street: Rs 1,300 per sq.ft (2024)
• Ma.Pa.Sarathi: Rs 700 per sq.ft (2024)
• Mettur Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Mayar Chitti Babu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total charges to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mayar Chitti Babu Street?

The Sub Registrar Office that covers Mayar Chitti Babu Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vengathur, as it is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mayar Chitti Babu Street?

The current guideline value of Mayar Chitti Babu Street is Rs 700 per sq.ft as of the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Mayar Chitti Babu Street?

Mayar Chitti Babu Street is classified as Residential Class II Type - I.

Which office handles registrations for properties in Vengathur?

The Manavalanagar Sub Registrar Office handles registrations for properties in Vengathur.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the correct amounts are paid during property transactions.