Guideline Value for Maragatham 5th Cross Street

Maragatham 5th Cross Street guideline value

The current guideline value of Maragatham 5th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram Sub Registrar Office (SRO), and is classified as Commercial Class I Type - II.

How the guideline value of Maragatham 5th Cross Street has changed

The guideline value for Maragatham 5th Cross Street has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 525 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a 471% rise. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by another increase to the current Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

In summary, from 2007 to 2024, the overall change in the guideline value is an increase of 529%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value for Maragatham 5th Cross Street is above this median.

• Maragatham 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham Chandrasekar Nagar: Rs 3,300 per sq.ft (2024)
• Maragatham 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 3rd Cross Street: Rs 2,970 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 5th 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, together totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maragatham 5th Cross Street?

The Sub Registrar Office that covers Maragatham 5th 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 more information.

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

The guideline value plays a crucial role in the registration of properties in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Maragatham 5th Cross Street?

The current guideline value of Maragatham 5th 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, marking an overall increase of 529% over this period.

What are the other streets in Hastinapuram with similar guideline values?

Other streets in Hastinapuram with a guideline value of Rs 3,300 per sq.ft include Maragatham 4th Cross Street, Maragatham Chandrasekar Nagar, Maragatham 2nd Main Road, and Maragatham 2nd Cross Street.

How is stamp duty calculated for properties in Maragatham 5th Cross Street?

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

Where can I find the Sub Registrar Office for Maragatham 5th Cross Street?

The Sub Registrar Office for Maragatham 5th Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.