Guideline Value for Maragatham 4th Cross Street

Maragatham 4th Cross Street guideline value

The current guideline value of Maragatham 4th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Maragatham 4th Cross Street has changed

Over the years, the guideline value for Maragatham 4th Cross Street has seen significant changes. The earliest recorded figure is from 2007, when the value was Rs 525 per sq.ft. This increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 471%. However, between 2012 and 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The 2023 revision saw a substantial increase to Rs 3,000 per sq.ft, followed by a further increase of 10% to the current value of Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a remarkable increase of 529%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, and Maragatham 4th Cross Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Maragatham 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 3rd Cross Street: Rs 2,970 per sq.ft (2024)
• Maragatham Chandrasekar Nagar: Rs 3,300 per sq.ft (2024)
• Maragatham 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maragatham 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maragatham 4th Cross Street?

The Sub Registrar Office that covers Maragatham 4th Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Maragatham 4th Cross Street?

The current guideline value of Maragatham 4th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 525 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 529%.

What is the land classification for Maragatham 4th Cross Street?

The land classification for Maragatham 4th Cross Street is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Maragatham 4th Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.