Guideline Value for Mailai Guruji Street

Mailai Guruji Street guideline value

The current guideline value of Mailai Guruji Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the jurisdiction of the Pammal SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mailai Guruji Street has changed

The guideline value for Mailai Guruji Street has seen several revisions over the years. The 2017 revision set the rate at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has further raised this figure to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. The overall change from 2017 to 2024 reflects a significant rise of 64%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 in the register for Mailai Guruji Street. This lack of data indicates that the guideline value was not updated during those years.

Guideline values in Pozhichalur

In Pozhichalur, there are a total of 299 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value in this area is Rs 1,320 per sq.ft, which means that Mailai Guruji Street's 2024 figure is below this median.

• Mailamani 1st Street: Rs 1,100 per sq.ft (2024)
• Mailamani 2nd Street: Rs 1,100 per sq.ft (2024)
• Mailamani 3rd Street: Rs 1,100 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Malligai Street: Rs 1,100 per sq.ft (2024)
• Lingam Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Mailai Guruji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mailai Guruji Street?

The Mailai Guruji Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these charges reflect the current market conditions as per the official register.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mailai Guruji Street?

The current guideline value of Mailai Guruji Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the median guideline value in Pozhichalur?

The median guideline value in Pozhichalur is Rs 1,320 per sq.ft, which means Mailai Guruji Street's 2024 figure is below this median.

What are the stamp duty and registration fees for a property on Mailai Guruji Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 for these fees.

Which office handles the registration for Mailai Guruji Street?

The registration for Mailai Guruji Street is handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.