Guideline Value for Maraimalai Adigal Salai

Maraimalai Adigal Salai guideline value

The current guideline value of Maraimalai Adigal Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Maraimalai Adigal Salai has changed

The guideline value for Maraimalai Adigal Salai has seen several revisions over the years. In the 2002 revision, the guideline value was Rs 566 per sq.ft. This increased to Rs 622 per sq.ft in 2003, and then experienced significant growth to Rs 1,500 per sq.ft in 2007. The value further rose to Rs 5,000 per sq.ft in 2012, but then dropped to Rs 3,350 per sq.ft in 2017. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023, followed by the current value of Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. Between 2012 and 2017, the value decreased by 33%. The rise from 2007 to 2012 was significant at 233%, while the jump from 2003 to 2007 was 141%. The overall increase from 2002 to 2024 is a remarkable 872%. The register has no figure for the years not listed above.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Maraimalai Adigal Salai is below this median.

• Mariamman Koil Street 1,2 and 3rd Street: Rs 3,300 per sq.ft (2024)
• Maria Street: Rs 3,300 per sq.ft (2024)
• Manjakkuppam: Rs 3,800 per sq.ft (2024)
• Masuthi Street: Rs 5,500 per sq.ft (2024)
• Melppatti Ponnambalam Mudhali Street: Rs 3,800 per sq.ft (2024)
• Mettucherry: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Maraimalai Adigal Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maraimalai Adigal Salai?

The Sub Registrar Office that covers Maraimalai Adigal Salai is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Mugappair. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and transparency. It is essential for both buyers and sellers 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 Maraimalai Adigal Salai?

The current guideline value of Maraimalai Adigal Salai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 566 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 872%.

What is the median guideline value in Mugappair?

The median guideline value in Mugappair is Rs 7,100 per sq.ft for the year 2024.

What are the stamp duty and registration fees for a property in Maraimalai Adigal Salai?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 4,95,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.