Guideline Value for Mariya Nayagam Street

Mariya Nayagam Street guideline value

The current guideline value of Mariya Nayagam Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - II.

How the guideline value of Mariya Nayagam Street has changed

The guideline value for Mariya Nayagam Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 345 per sq.ft. This increased to Rs 374 per sq.ft in 2003, marking an 8% rise. The value saw a significant jump to Rs 1,527 per sq.ft in 2007, representing a 308% increase. In 2012, the guideline value adjusted to Rs 3,200 per sq.ft, which was a 110% increase from the previous revision. However, in 2017, it decreased to Rs 2,144 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,200 per sq.ft in 2023, before reaching the current figure of Rs 3,500 per sq.ft in 2024, an increase of 9%.

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

Guideline values in Sembiam

In Sembiam, 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, with a median value of Rs 2,700 per sq.ft. Mariya Nayagam Street's current guideline value is above this median.

• Mariya Nayagam 5th Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 4th 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 Street

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

Which Sub Registrar Office covers Mariya Nayagam Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Mariya Nayagam Street?

The current guideline value of Mariya Nayagam 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, showing an overall increase of 914% over the years.

What are the stamp duty and registration fees for property in Mariya Nayagam Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Where can I find the Sub Registrar Office for Mariya Nayagam Street?

The Sembiam Sub Registrar Office, which covers Mariya Nayagam Street, is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Mariya Nayagam Street?

The land classification for Mariya Nayagam Street is Residential Special Type - II.