Guideline Value for Mariapuram Mada Koil 2nd Street

Mariapuram Mada Koil 2nd Street guideline value

The current guideline value of Mariapuram Mada Koil 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mariapuram Mada Koil 2nd Street has changed

The guideline value for Mariapuram Mada Koil 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision. The register has no figures for the years 2002 and 2003.

Between the revisions, notable changes include a 650% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and has risen by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Nandhambakkam

Nandhambakkam village has a range of guideline values across its 76 streets under the Alandur SRO, with the 2024 figures varying from Rs 2,200 to Rs 8,300 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Mariapuram Mada Koil 2nd Street's guideline value below this median.

• Mariyapuram Mada Koil First Street: Rs 3,300 per sq.ft (2024)
• Maniam's mango grove: Rs 5,000 per sq.ft (2024)
• Mount Poondamalli Road: Rs 8,300 per sq.ft (2024)
• Kuthalamman Koil Street: Rs 3,300 per sq.ft (2024)
• Muthu Mariyamman Street: Rs 3,300 per sq.ft (2024)
• Nandampakkam Colony Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mariapuram Mada Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mariapuram Mada Koil 2nd Street?

The Sub Registrar Office that covers Mariapuram Mada Koil 2nd 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 further assistance.

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

The guideline value is an important factor when registering property transactions in Nandhambakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that transactions are recorded accurately and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Mariapuram Mada Koil 2nd Street?

The current guideline value of Mariapuram Mada Koil 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 725% over this period.

What is the range of guideline values in Nandhambakkam?

The guideline values in Nandhambakkam range from Rs 2,200 to Rs 8,300 per sq.ft as of 2024, with a median value of Rs 3,900 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Mariapuram Mada Koil 2nd Street?

The Sub Registrar Office for Mariapuram Mada Koil 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.