Guideline Value for Mariya Street

Mariya Street guideline value

The current guideline value of Mariya Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Mariya Street has changed

The guideline value for Mariya Street has undergone changes over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. From 2012 to the 2024 revision, there was an increase of 8%, bringing the current value to Rs 1,300 per sq.ft. The register has no figure for this street in the years 2023, 2017, 2007, 2003, and 2002.

Prior to the 2012 revision, there are no recorded figures for Mariya Street in the guideline value register. This indicates that the street has seen its first significant valuation in 2012, followed by the latest revision in 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, making the guideline value of Mariya Street below this median.

• Marudhi Nagar: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Mariya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, together totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariya Street?

The Sub Registrar Office covering Mariya Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value helps in establishing transparency in property transactions, protecting both parties involved.

Frequently asked questions

What is the current guideline value of Mariya Street?

The current guideline value of Mariya Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mariya Street was Rs 1,200 per sq.ft in 2012, and it increased by 8% to Rs 1,300 per sq.ft in 2024. There are no recorded figures for this street in the years 2023, 2017, 2007, 2003, and 2002.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, while Mariya Street's guideline value is below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is typically charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.