Guideline Value for Maraikkayar Nagar 3rd Street

Maraikkayar Nagar 3rd Street guideline value

The current guideline value of Maraikkayar Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Maraikkayar Nagar 3rd Street has changed

The guideline value for Maraikkayar Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value significantly increased to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% rise.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. The overall change from the 2012 revision to the 2024 revision shows a net increase of 10%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that the 2024 guideline value of Maraikkayar Nagar 3rd Street is above this median.

• Maraikkayar Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Maraikkayar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Maraikkayar Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Maraikkayar Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Maraikkayar Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Maraikkayar Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maraikkayar Nagar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maraikkayar Nagar 3rd Street?

The Sub Registrar Office covering Maraikkayar Nagar 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both buyers and sellers. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Maraikkayar Nagar 3rd Street?

The current guideline value of Maraikkayar Nagar 3rd 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Maraikkayar Nagar 3rd Street?

For a 1,000 sq.ft property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Maraikkayar Nagar 3rd Street?

The Neelankarai Sub Registrar Office covers Maraikkayar Nagar 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Maraikkayar Nagar 3rd Street?

Maraikkayar Nagar 3rd Street is classified as Residential Class II Type - I.