Guideline Value for Maraimalai Adigalar Street / Panar Street

Maraimalai Adigalar Street / Panar Street guideline value

The current guideline value of Maraimalai Adigalar Street / Panar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Maraimalai Adigalar Street / Panar Street has changed

The guideline value for Maraimalai Adigalar Street / Panar Street has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a substantial 300%. Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, making the 2024 figure for Maraimalai Adigalar Street / Panar Street below this median.

• M K N Road: Rs 5,500 per sq.ft (2024)
• Munusamy Street: Rs 4,400 per sq.ft (2024)
• Kumaran Street: Rs 4,400 per sq.ft (2024)
• Krishnasamy Street: Rs 4,400 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maraimalai Adigalar Street / Panar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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. It is important to 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 Maraimalai Adigalar Street / Panar Street?

The Sub Registrar Office that covers Maraimalai Adigalar Street / Panar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Palavanthangal, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are essential components of the property transaction process.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price is in line with the official valuation set by the registration department. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Maraimalai Adigalar Street / Panar Street?

The current guideline value of Maraimalai Adigalar Street / Panar 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 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the median guideline value for streets in Palavanthangal?

The median guideline value for streets in Palavanthangal is Rs 3,900 per sq.ft, which is higher than the current value for Maraimalai Adigalar Street / Panar Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Maraimalai Adigalar Street / Panar Street?

The Alandur Sub Registrar Office handles the registration for Maraimalai Adigalar Street / Panar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.