Guideline Value for MRK Pannai Thottam

MRK Pannai Thottam guideline value

The current guideline value of MRK Pannai Thottam is Rs 248 per sq.ft, effective from 1 July 2024. This locality is situated in Thirunilai village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of MRK Pannai Thottam has changed

The guideline value for MRK Pannai Thottam has seen several revisions over the years. Starting from Rs 10 per sq.ft in 2002, the value increased to Rs 11 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 50 per sq.ft, reflecting a significant increase of 355%. In 2012, the guideline value was Rs 225 per sq.ft, which was a decrease of 33% from the previous revision. The value then rose to Rs 151 per sq.ft in 2017, an increase of 50%. The most recent revision in 2023 set the value at Rs 226 per sq.ft, which was a 50% increase from 2017. Finally, the current value of Rs 248 per sq.ft, effective from 2024, represents a 10% rise from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 2380%. There are no revisions with figures missing for this street in the register.

Guideline values in Thirunilai

In Thirunilai village, there are 10 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, all set at Rs 248 per sq.ft, with the median also being Rs 248 per sq.ft. MRK Pannai Thottam's 2024 figure aligns with this median.

• New Star City: Rs 248 per sq.ft (2024)
• Pachaiamma Nagar: Rs 248 per sq.ft (2024)
• Pachaiamma Nagar Ext.: Rs 248 per sq.ft (2024)
• Sri Lakshmi Ganapathy Nagar: Rs 248 per sq.ft (2024)
• Sri Sankara Balasubramaniya Highway City: Rs 248 per sq.ft (2024)
• BHAVANI AMMAN GARDEN Extention: Rs 248 per sq.ft (2024)

Stamp duty and registration fee for property in MRK Pannai Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value would be Rs 2,48,000. The stamp duty at 7% would amount to Rs 17,360, while the registration fee at 2% would be Rs 4,960. Together, these fees would total Rs 22,320. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MRK Pannai Thottam?

The Sub Registrar Office covering MRK Pannai Thottam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Thirunilai. It serves as a benchmark for determining the minimum value at which a property can be registered. When you buy or sell a property, the guideline value helps in calculating the applicable stamp duty and registration fees.

Additionally, the guideline value ensures that the registration process is transparent and standardized across the region. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of MRK Pannai Thottam?

The current guideline value of MRK Pannai Thottam is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10 per sq.ft in 2002 to Rs 248 per sq.ft in 2024, reflecting a total increase of 2380% over the years.

What are the stamp duty and registration fees for properties in MRK Pannai Thottam?

For a property valued at Rs 2,48,000, the stamp duty would be Rs 17,360 and the registration fee would be Rs 4,960, totaling Rs 22,320.

Which office handles registrations for MRK Pannai Thottam?

The Thiruvottiyur Sub Registrar Office handles registrations for MRK Pannai Thottam, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for MRK Pannai Thottam?

MRK Pannai Thottam is classified as Residential Special Type - I, indicating its designated use for residential purposes.