Guideline Value for Maragatham 3rd Cross Street

Maragatham 3rd Cross Street guideline value

The current guideline value of Maragatham 3rd Cross Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Maragatham 3rd Cross Street has changed

Over the years, the guideline value for Maragatham 3rd Cross Street has seen several revisions. The 2007 revision set the value at Rs 525 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a remarkable increase of 414%. However, the value decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 raised it to Rs 2,700 per sq.ft, and the latest 2024 revision has increased it further to Rs 2,970 per sq.ft, reflecting a 10% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the current 2024 value, there has been an increase of 466%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the current guideline value for Maragatham 3rd Cross Street.

• Maragatham 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 1st Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maragatham 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maragatham 3rd Cross Street?

The Sub Registrar Office that covers Maragatham 3rd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is conducted at a fair value as per the regulations set by the Registration Department.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, and it helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Maragatham 3rd Cross Street?

The current guideline value of Maragatham 3rd Cross Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 466% to the current value of Rs 2,970 per sq.ft in 2024.

What is the land classification for Maragatham 3rd Cross Street?

Maragatham 3rd Cross Street is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Maragatham 3rd Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000.