Guideline Value for Maragatham 1st Cross Street

Maragatham 1st Cross Street guideline value

The current guideline value of Maragatham 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Commercial Class I Type - II.

How the guideline value of Maragatham 1st Cross Street has changed

The guideline value for Maragatham 1st Cross Street has undergone several revisions over the years. In 2007, the value was Rs 525 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in 2012. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 529%. Notably, 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 with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Maragatham 1st Cross Street's 2024 value above this median.

• Maragatham 1st Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 3rd Cross Street: Rs 2,970 per sq.ft (2024)
• Ma.Po.Si.Nagar: Rs 2,970 per sq.ft (2024)
• Maragatham 3rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maragatham 1st 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Maragatham 1st Cross Street?

The Sub Registrar Office that covers Maragatham 1st Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when it comes to the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers to understand the fair valuation of the property. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Maragatham 1st Cross Street?

The current guideline value of Maragatham 1st 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 from Rs 525 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 529% over the years.

What is the registration office for Maragatham 1st Cross Street?

The registration office for Maragatham 1st Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

What is the land classification for Maragatham 1st Cross Street?

Maragatham 1st Cross Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.