Guideline Value for Mari Nagar 1st Street

Mari Nagar 1st Street guideline value

The current guideline value of Mari Nagar 1st Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Mari Nagar 1st Street has changed

The guideline value for Mari Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,100 per sq.ft, and the latest 2024 revision raised it further to Rs 1,200 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The changes between the revisions include a significant increase of 49% from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that have a guideline value for 2024 ranging from Rs 1,100 to Rs 1,200 per sq.ft, with a median value of Rs 1,200 per sq.ft. Mari Nagar 1st Street's 2024 guideline value matches this median.

• Mari Nagar: Rs 1,200 per sq.ft (2024)
• Mari Nagar 2nd Street: Rs 1,200 per sq.ft (2024)
• Mari Nagar Extn: Rs 1,200 per sq.ft (2024)
• Muthalamman koil Street: Rs 1,200 per sq.ft (2024)
• Muthalamman Nagar: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 1st Cross Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mari Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. 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 Mari Nagar 1st Street?

The Sub Registrar Office that covers Mari Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Mari Nagar 1st Street?

The current guideline value of Mari Nagar 1st Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

Which Sub Registrar Office covers Mari Nagar 1st Street?

The Kunrathur Sub Registrar Office covers Mari Nagar 1st Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for properties in Mari Nagar 1st Street?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

What is the land classification for Mari Nagar 1st Street?

The land classification for Mari Nagar 1st Street is Residential Special Type - I.