Guideline Value for Maraimalai Adigalar Street

Maraimalai Adigalar Street guideline value

The current guideline value of Maraimalai Adigalar Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Maraimalai Adigalar Street has changed

The guideline value for Maraimalai Adigalar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and further to Rs 4,400 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value saw a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Maraimalai Adigalar Street's 2024 figure above this median.

• Manonmaniam Street: Rs 2,750 per sq.ft (2024)
• Mark Street: Rs 2,750 per sq.ft (2024)
• Manikkavasagar Street: Rs 1,650 per sq.ft (2024)
• Maruthi Street: Rs 1,650 per sq.ft (2024)
• Maruthupandiyar Street: Rs 2,750 per sq.ft (2024)
• Maruthuvar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Maraimalai Adigalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maraimalai Adigalar Street?

The Sub Registrar Office that covers Maraimalai Adigalar 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 details.

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

The guideline value plays a crucial role in the property registration process in Chitlapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with local regulations.

Additionally, the guideline value serves as a benchmark for property transactions, helping to standardize the valuation process across different properties in the area. It is important for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Maraimalai Adigalar Street?

The current guideline value of Maraimalai Adigalar Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 in 2023, and finally to Rs 4,400 in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Maraimalai Adigalar Street?

The land classification for Maraimalai Adigalar Street is Residential Special Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Maraimalai Adigalar Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Maraimalai Adigalar Street?

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