Guideline Value for Mariyamman Nagar

Mariyamman Nagar guideline value

The current guideline value of Mariyamman Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Mariyamman Nagar has changed

The guideline value for Mariyamman Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 485 per sq.ft, which increased to Rs 109 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 300 per sq.ft in 2007, and then it jumped to Rs 1,500 per sq.ft in 2012. However, in 2017, it decreased to Rs 1,005 per sq.ft. The value then rose again to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as of the 2024 revision. The overall change from 2002 to 2024 is an increase of 240%.

From 2017 to 2023, the guideline value increased by 49%, while there was a decrease of 33% from 2012 to 2017. The most notable change occurred from 2007 to 2012, where the value increased by 400%. The guideline value for Mariyamman Nagar has not been specified for any other years apart from those listed.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, making Mariyamman Nagar's current guideline value of Rs 1,650 per sq.ft higher than the median.

• Mariyammal Nagar: Rs 1,650 per sq.ft (2024)
• Marvel Lake View County: Rs 1,100 per sq.ft (2024)
• Masilamani Nagar: Rs 1,100 per sq.ft (2024)
• Mannan Street: Rs 1,102 per sq.ft (2024)
• Matha Nagar: Rs 1,102 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mariyamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariyamman Nagar?

The Sub Registrar Office that covers Mariyamman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are paid to the government during the registration process.

Frequently asked questions

What is the current guideline value of Mariyamman Nagar?

The current guideline value of Mariyamman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 485 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 240% over the years.

What is the land classification of Mariyamman Nagar?

Mariyamman Nagar falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for properties in Mariyamman Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Mariyamman Nagar?

The Redhills Sub Registrar Office handles the registration for Mariyamman Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.