Guideline Value for Maraimalai Adikal Street

Maraimalai Adikal Street guideline value

The current guideline value of Maraimalai Adikal Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Maraimalai Adikal Street has changed

The guideline value for Maraimalai Adikal Street has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. Following this, the value significantly increased to Rs 1,800 per sq.ft in 2023, and further rose to the current value of Rs 1,900 per sq.ft in 2024, reflecting a 6% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, comparing the 2012 figure to the current 2024 value, there has been a modest increase of 6%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, indicating that Maraimalai Adikal Street's 2024 figure is below this median.

• Manimekalai Street: Rs 1,600 per sq.ft (2024)
• Manickavasakar Street: Rs 880 per sq.ft (2024)
• Maruthi Nagar: Rs 3,750 per sq.ft (2024)
• Maruthi Nagar 1st Cross Street: Rs 3,750 per sq.ft (2024)
• Maruthi Nagar 1st Main Road: Rs 3,750 per sq.ft (2024)
• Maruthi Nagar 1st Street: Rs 3,750 per sq.ft (2024)

Stamp duty and registration fee for property in Maraimalai Adikal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. 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 further calculations.

Which Sub Registrar Office covers Maraimalai Adikal Street?

The Sub Registrar Office that covers Maraimalai Adikal Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the property is registered at a value that reflects its worth according to the government’s assessment.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and standardization in property transactions, protecting both buyers and sellers in the process.

Frequently asked questions

What is the current guideline value of Maraimalai Adikal Street?

The current guideline value of Maraimalai Adikal Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Maraimalai Adikal Street?

The land classification for Maraimalai Adikal Street is Residential Class I Type - II.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Maraimalai Adikal Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,00,000, the stamp duty at 7% would be Rs 1,33,000.