Guideline Value

Corporate

Guideline Value for Mari Nagar 2nd Street

₹1200/sq.ft.

The guideline value for Mari Nagar 2nd Street in Venkatapuram village (Kunrathur SRO, Chennai zone) is Rs 1200 per sq.ft, effective 1 July 2024. It was Rs 1100 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Venkatapuram

Village

Kunrathur

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹1200 /sq.ft.
From 1-4-2023 ₹1100 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹737 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1100 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.59. Road Street, Kundrathur, Chennai -600 069.
044-24780515
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mari Nagar 2nd Street

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Mari Nagar 2nd Street guideline value

The current guideline value of Mari Nagar 2nd Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village under the Kunrathur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Mari Nagar 2nd Street has changed

The guideline value for Mari Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which then decreased 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 revision in 2024 raised it further to Rs 1,200 per sq.ft. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, there was a 33% decrease from 2012 to 2017, followed by a significant 49% increase from 2017 to 2023. The value then increased by 9% from 2023 to 2024. Overall, comparing the 2012 and 2024 revisions, there has been a 9% increase in the guideline value.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 1,200 per sq.ft, which is equal to the 2024 figure for Mari Nagar 2nd Street.

Stamp duty and registration fee for property in Mari Nagar 2nd 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, charged 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 and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mari Nagar 2nd Street?

The Sub Registrar Office that covers Mari Nagar 2nd 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 critical factor in property transactions in Venkatapuram, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

During the registration process, buyers and sellers must adhere to the guideline value set by the authorities. This ensures transparency and helps in maintaining a standardized approach to property transactions within the region.

Frequently asked questions

What is the current guideline value of Mari Nagar 2nd Street?

The current guideline value of Mari Nagar 2nd 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 seen various changes, with the 2012 revision at Rs 1,100 per sq.ft, dropping to Rs 737 per sq.ft in 2017, then increasing to Rs 1,100 per sq.ft in 2023, and finally reaching Rs 1,200 per sq.ft in 2024.

What is the land classification for Mari Nagar 2nd Street?

Mari Nagar 2nd Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value. For example, for a property valued at Rs 12,00,000, the total stamp duty and registration fees would be Rs 1,08,000.

Which office handles property registrations for Mari Nagar 2nd Street?

The Kunrathur Sub Registrar Office is responsible for property registrations in Mari Nagar 2nd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.