Guideline Value for Mailan Street

Mailan Street guideline value

The current guideline value of Mailan Street is Rs 900 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mailan Street has changed

The guideline value for Mailan Street has seen several revisions over the years. The earliest recorded value was Rs 100 per sq.ft in 2007. This increased significantly to Rs 900 per sq.ft in 2012, marking an increase of 800%. However, in 2017, the value dropped to Rs 603 per sq.ft, representing a decrease of 33%. The value remained at Rs 900 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024.

Overall, from 2007 to 2024, the guideline value has increased by 800%. It is noteworthy that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Uthiramerur

In Uthiramerur village, there are 180 streets under the Uthiramerur SRO with a guideline value for 2024 ranging from Rs 200 to Rs 1,800 per sq.ft. The median guideline value is Rs 800 per sq.ft, placing Mailan Street's 2024 figure above this median.

• Mahathma Gandhi Street: Rs 900 per sq.ft (2024)
• Malayametu Street: Rs 1,000 per sq.ft (2024)
• Maliyangaranai Madhura Manikka Naththam: Rs 700 per sq.ft (2024)
• Mallicheri: Rs 250 per sq.ft (2024)
• Malligapuram 1st Street: Rs 350 per sq.ft (2024)
• Malligapuram 2nd Street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Mailan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total fees together to Rs 81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mailan Street?

The Sub Registrar Office that covers Mailan Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Uthiramerur. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that transactions are conducted transparently and fairly.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. This ensures that buyers and sellers are aware of the financial implications involved in the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mailan Street?

The current guideline value of Mailan Street is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Mailan Street has changed from Rs 100 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and remained at Rs 900 per sq.ft in 2023 and 2024.

What is the median guideline value in Uthiramerur?

The median guideline value in Uthiramerur is Rs 800 per sq.ft, with Mailan Street's 2024 figure of Rs 900 per sq.ft being above this median.

What are the stamp duty and registration fees for Mailan Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 63,000 and the registration fee is Rs 18,000, totaling Rs 81,000.

Which office handles registrations for Mailan Street?

The Uthiramerur Sub Registrar Office handles registrations for Mailan Street, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.