Guideline Value for Margo Street (Margoss Street)

Margo Street (Margoss Street) guideline value

The current guideline value of Margo Street (Margoss Street) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Paruthivakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Margo Street (Margoss Street) has changed

The guideline value of Margo Street (Margoss Street) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, marking a change of +12%. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, indicating a significant increase of +49% to the 2023 figure. The 2012 revision had the guideline value at Rs 2,500 per sq.ft, which reflects a decrease of -33% compared to the 2017 figure.

From 2012 to 2024, the overall change in the guideline value is +12%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paruthivakkam

In Paruthivakkam, there are 14 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Margo Street (Margoss Street) below this median.

• Margo Lane (Margoss Lane): Rs 2,800 per sq.ft (2024)
• Mettu Palayam (Eruppu Padhai): Rs 5,500 per sq.ft (2024)
• Mettu Street/Paris Apts.: Rs 3,900 per sq.ft (2024)
• Madhurai Naiken Street (Madurai Street): Rs 4,400 per sq.ft (2024)
• M.K.N. Road: Rs 6,600 per sq.ft (2024)
• Pachaiyamman Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Margo Street (Margoss Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Margo Street (Margoss Street)?

The Sub Registrar Office that covers Margo Street (Margoss 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 Paruthivakkam

The guideline value plays a crucial role in property transactions within Paruthivakkam. It is utilized to determine the stamp duty and registration fees applicable during the registration of property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to calculate the associated costs accurately.

When a property is sold, the guideline value is often used as a benchmark to assess the value of the transaction. This ensures that the government receives the appropriate revenue from stamp duty and registration fees based on the property's value, as indicated by the guideline value.

Frequently asked questions

What is the current guideline value of Margo Street (Margoss Street)?

The current guideline value of Margo Street (Margoss Street) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing a significant increase over time.

What is the land classification of Margo Street (Margoss Street)?

Margo Street (Margoss Street) is classified as Residential Class I Type - III, which indicates its designation for residential purposes.

Where can I find the registration office for Margo Street (Margoss Street)?

The registration office for Margo Street (Margoss Street) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Margo Street (Margoss Street)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.