Guideline Value for Mariadoss Street

Mariadoss Street guideline value

The current guideline value of Mariadoss Street in Tondaiarpet village, under the Royapuram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Mariadoss Street has changed

The guideline value of Mariadoss Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value rebounded significantly to Rs 2,000 per sq.ft in 2023 and further increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value range from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Mariadoss Street's 2024 figure above this median.

• Market faram 2nd street: Rs 1,300 per sq.ft (2024)
• Market faram 3rd street: Rs 1,300 per sq.ft (2024)
• Market faram 5th street: Rs 1,300 per sq.ft (2024)
• Market faram 6th street: Rs 1,300 per sq.ft (2024)
• Market faram 7th street: Rs 1,300 per sq.ft (2024)
• Market faram 8th street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mariadoss Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 more precise calculations.

Which Sub Registrar Office covers Mariadoss Street?

The Sub Registrar Office covering Mariadoss Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Tondaiarpet. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on the property's worth.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Mariadoss Street?

The current guideline value of Mariadoss Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

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

Other streets in Tondaiarpet include Market faram 2nd street, 3rd street, 5th street, 6th street, 7th street, and 8th street, all with a guideline value of Rs 1,300 per sq.ft in 2024.

How are stamp duty and registration fees calculated for properties?

Stamp duty is charged at 7% and registration fees at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,98,000 in fees.

Where can I find the Sub Registrar Office for Mariadoss Street?

The Sub Registrar Office for Mariadoss Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.