Guideline Value for Maraimalai Adikal Street

Maraimalai Adikal Street guideline value

The current guideline value of Maraimalai Adikal Street is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Maraimalai Adikal Street has changed

The guideline value for Maraimalai Adikal Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 2,100 per sq.ft in 2012, marking a rise of 740%. However, the value then decreased to Rs 1,407 per sq.ft in 2017, a decline of 33%. In 2023, the value increased to Rs 2,100 per sq.ft, and finally, the current revision in 2024 sets it at Rs 2,310 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 824%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the guideline value of Maraimalai Adikal Street.

• MA.PO.SI. Street: Rs 1,980 per sq.ft (2024)
• Manju Garden: Rs 1,650 per sq.ft (2024)
• Manimegalai Street: Rs 2,310 per sq.ft (2024)
• Manikkavasakar Street: Rs 1,650 per sq.ft (2024)
• Masoothi Street: Rs 1,650 per sq.ft (2024)
• M.A.V.Ramraja Avenue: Rs 2,970 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 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200. Together, the total cost for stamp duty and registration would be Rs 2,07,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maraimalai Adikal Street?

The Sub Registrar Office that covers Maraimalai Adikal Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This means that even if the sale price is lower than the guideline value, the fees will still be based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maraimalai Adikal Street?

The current guideline value of Maraimalai Adikal Street is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 824% over the years.

What are the other streets in Perungalathur with their guideline values?

Other streets in Perungalathur include MA.PO.SI. Street at Rs 1,980 per sq.ft, Manju Garden at Rs 1,650 per sq.ft, and M.A.V.Ramraja Avenue at Rs 2,970 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Maraimalai Adikal Street?

For a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700 and the registration fee would be Rs 46,200, totaling Rs 2,07,900.

Which office handles property registrations for Maraimalai Adikal Street?

The Padappai Sub Registrar Office handles property registrations for Maraimalai Adikal Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.