Guideline Value for Mariya Nayagam 5th Street

Mariya Nayagam 5th Street guideline value

The current guideline value of Mariya Nayagam 5th 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 5th Street has changed

The guideline value for Mariya Nayagam 5th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 345 per sq.ft, which increased to Rs 374 per sq.ft in 2003, marking an 8% rise. The value then saw a significant increase of 308% to reach Rs 1,527 per sq.ft in 2007. Following this, the value rose by 110% to Rs 3,200 per sq.ft in 2012, but then it decreased by 33% to Rs 2,144 per sq.ft in 2017. The value increased by 49% to Rs 3,200 per sq.ft in 2023, and finally, it has risen by 9% to the current rate of Rs 3,500 per sq.ft in 2024.

There are no figures available for revisions in the years not mentioned in the register for this street. The overall change from 2002 to 2024 reflects a substantial increase of 914% in the guideline value.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, placing Mariya Nayagam 5th Street above this median.

• Mariya Nayagam 4th Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 3rd Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 2nd 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 5th 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, while the registration fee at 2% would be Rs 70,000. Together, the total costs would be Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mariya Nayagam 5th Street?

The Sub Registrar Office that covers Mariya Nayagam 5th 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 is a critical factor during property registration in Sembiam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations involved in the transaction. Ensuring that you have the correct information about the guideline value can help facilitate a smoother registration process.

Frequently asked questions

What is the current guideline value of Mariya Nayagam 5th Street?

The current guideline value of Mariya Nayagam 5th 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 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 is the land classification for Mariya Nayagam 5th Street?

Mariya Nayagam 5th Street is classified as Residential Special Type - II under the Sembiam SRO.

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 office handles registrations for properties in Mariya Nayagam 5th Street?

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