Guideline Value for Mariya Nayagam 4th Street

Mariya Nayagam 4th Street guideline value

The current guideline value of Mariya Nayagam 4th Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Mariya Nayagam 4th Street has changed

The guideline value for Mariya Nayagam 4th Street has seen significant changes over the years. In 2002, the value was Rs 345 per sq.ft, which increased to Rs 374 per sq.ft in 2003. Following this, the value surged to Rs 1,527 per sq.ft in 2007, marking a remarkable increase of 308%. The value then rose to Rs 3,200 per sq.ft in 2012, reflecting a 110% increase from the previous revision. However, it decreased to Rs 2,144 per sq.ft in 2017, a decline of 33%. The guideline value then increased to Rs 3,200 per sq.ft in 2023 and finally reached Rs 3,500 per sq.ft in 2024, showing a 9% rise.

Overall, from 2002 to 2024, the guideline value has increased by 914%. There are no figures available for any other revisions for this street in the register.

Guideline values in Sembiam

In Sembiam, the guideline values for 2024 range from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Mariya Nayagam 4th Street is above this median, indicating a higher valuation compared to many other streets.

• Mariya Nayagam 3rd Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 5th Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 2nd Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 1st Street: Rs 3,500 per sq.ft (2024)
• Meersajath Hussain Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mariya Nayagam 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total cost for these fees to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariya Nayagam 4th Street?

The Sub Registrar Office that covers Mariya Nayagam 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration. This ensures that the transaction is recorded accurately and reflects the current market conditions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Mariya Nayagam 4th Street?

The current guideline value of Mariya Nayagam 4th Street is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 345 per sq.ft in 2002 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 914% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Which Sub Registrar Office handles registrations for this street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Mariya Nayagam 4th Street.

What is the land classification for Mariya Nayagam 4th Street?

Mariya Nayagam 4th Street is classified as Residential Special Type - II according to the local land classification guidelines.