Guideline Value for Marappan Street

Marappan Street guideline value

The current guideline value of Marappan Street in Thiruvallur village, under the Tiruvallur Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Marappan Street has changed

The guideline value for Marappan Street has seen several revisions over the years. In 2007, the value was Rs 320 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 213% rise. However, from 2012 to 2017, the value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. By 2023, the value had risen to Rs 1,000 per sq.ft, and in the latest revision for 2024, it has increased to Rs 1,100 per sq.ft, a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 244%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that have a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current figure for Marappan Street.

• Maraimalaiadikalar Street: Rs 1,100 per sq.ft (2024)
• Maniyammaiyar Street: Rs 1,100 per sq.ft (2024)
• Manimegalai Street: Rs 1,100 per sq.ft (2024)
• Mandabam Street: Rs 1,650 per sq.ft (2024)
• Meenatchi Nagar: Rs 1,650 per sq.ft (2024)
• Mettu Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Marappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Marappan Street?

The Sub Registrar Office that covers Marappan Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Thiruvallur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs that buyers must consider when purchasing property.

When selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures that all transactions are transparent and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Marappan Street?

The current guideline value of Marappan Street is Rs 1,100 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 320 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 244% over the years.

What are the stamp duty and registration fees for Marappan Street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office handles registrations for Marappan Street?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Marappan Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification for Marappan Street?

Marappan Street is classified under Residential Class I Type - III, indicating its suitability for residential development.