Guideline Value for Maracoir street

Maracoir street guideline value

The current guideline value of Maracoir street in Muthialpet village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Maracoir street has changed

The guideline value for Maracoir street has seen several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure dropped to Rs 3,350 per sq.ft in 2017 before rising to Rs 5,000 per sq.ft again in 2023. The latest revision in 2024 has increased the value to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, which is equal to the current value of Maracoir street.

• Mannady street: Rs 14,800 per sq.ft (2024)
• Maleeswarar Pillar street *: Rs 4,900 per sq.ft (2024)
• Maleeswarar Koil street south: Rs 4,900 per sq.ft (2024)
• Maleeswarar Koil street north: Rs 4,900 per sq.ft (2024)
• Malayappan street: Rs 14,800 per sq.ft (2024)
• Meerali lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Maracoir street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Maracoir street?

The Sub Registrar Office that covers Maracoir street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the value of the property as determined by the local authorities. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Maracoir street?

The current guideline value of Maracoir street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties on Maracoir street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for Maracoir street?

The Chennai North Joint I Sub Registrar Office handles property registrations for Maracoir street, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the land classification for Maracoir street?

Maracoir street is classified as Residential Class II Type - I under the local land classification system.