Guideline Value for Mailamani 1st Street

Mailamani 1st Street guideline value

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

How the guideline value of Mailamani 1st Street has changed

The guideline value for Mailamani 1st Street has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry 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, placing Mailamani 1st Street's 2024 figure below that median.

• Mailai Guruji 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 Mailamani 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the 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 to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mailamani 1st Street?

The Sub Registrar Office that covers Mailamani 1st Street is 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 information.

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

The guideline value is a crucial factor when buying or selling property in Pozhichalur. It serves as a benchmark for determining the minimum value of a property during registration. Buyers should be aware that the guideline value can influence the overall transaction costs, including stamp duty and registration fees.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers adhere to the legal requirements set by the Registration Department. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Mailamani 1st Street?

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

How has the guideline value changed over the years?

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

What is the land classification for Mailamani 1st Street?

Mailamani 1st Street is classified as Residential Class II Type - I.

Where can I find more information about the registration office?

The Pammal Sub Registrar Office covers Mailamani 1st Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Mailamani 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.