Guideline Value for Maduappar 3rd Street

Maduappar 3rd Street guideline value

The current guideline value of Maduappar 3rd Street is Rs 2,420 per sq.ft. This street is located in Thiruneermalai village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Maduappar 3rd Street has changed

The guideline value for Maduappar 3rd Street has seen significant changes over the years. In 2003, the guideline value was Rs 312 per sq.ft, which increased to Rs 810 per sq.ft in 2007. This marked a substantial rise of 160%. The value further escalated to Rs 1,474 per sq.ft in 2017, reflecting an increase of 82%. By 2023, the guideline value reached Rs 2,200 per sq.ft, a notable rise of 49% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,420 per sq.ft, representing a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2012 for Maduappar 3rd Street. Overall, from 2003 to 2024, the guideline value has increased by 676%.

Guideline values in Thiruneermalai

Thiruneermalai village has a total of 316 streets under the Pammal SRO, with guideline values ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which matches the current value of Maduappar 3rd Street.

• Maduappar 2nd Street: Rs 2,420 per sq.ft (2024)
• Maduappar 1st Street: Rs 2,420 per sq.ft (2024)
• Maduravoyal Bye Pass Road - Service Road: Rs 2,200 per sq.ft (2024)
• Lal Bahadur Sastri Street: Rs 2,200 per sq.ft (2024)
• Lakshmipuram/Ranganathasami 2nd Street: Rs 2,860 per sq.ft (2024)
• Lakshmipuram/Mani Naicker Street: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Maduappar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value is Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Maduappar 3rd Street?

The Maduappar 3rd Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Thiruneermalai. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling a property, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Maduappar 3rd Street?

The current guideline value of Maduappar 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 312 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 676% over this period.

What are the registration fees for properties in Maduappar 3rd Street?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles property registrations for Maduappar 3rd Street?

The Pammal Sub Registrar Office handles property registrations for Maduappar 3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Maduappar 3rd Street?

Maduappar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.