Guideline Value for Maraimalai Adigal Street

Maraimalai Adigal Street guideline value

The current guideline value of Maraimalai Adigal Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Maraimalai Adigal Street has changed

The guideline value for Maraimalai Adigal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft, a decrease of 33%. In the following revisions, the value increased significantly, with the 2023 revision raising it to Rs 1,500 per sq.ft, and the current 2024 revision further increasing it to Rs 1,650 per sq.ft, marking a 10% rise.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the 2024 figure for Maraimalai Adigal Street.

• Mani street ext: Rs 1,650 per sq.ft (2024)
• Mani Street: Rs 2,200 per sq.ft (2024)
• Manimegalai Street: Rs 1,650 per sq.ft (2024)
• Manikandan St: Rs 1,100 per sq.ft (2024)
• Marutham Street: Rs 1,100 per sq.ft (2024)
• Malli Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Maraimalai Adigal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total costs together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maraimalai Adigal Street?

The Sub Registrar Office that covers Maraimalai Adigal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher, ensuring that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Maraimalai Adigal Street?

The current guideline value of Maraimalai Adigal Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a drop to Rs 1,005 per sq.ft in 2017.

What are the other streets in Peerklankaranai?

Other streets in Peerklankaranai include Mani street ext, Mani Street, Manimegalai Street, Manikandan St, Marutham Street, and Malli Street, each with their respective guideline values for 2024.

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

The Sub Registrar Office for Maraimalai Adigal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a plot valued at Rs 16,50,000, the stamp duty would be calculated at 7% of that amount.