Guideline Value for Mariyappa Naicken Street

Mariyappa Naicken Street guideline value

The current guideline value of Mariyappa Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Mariyappa Naicken Street has changed

The guideline value for Mariyappa Naicken Street has undergone several revisions over the years. In 2007, the value was Rs 620 per sq.ft, which increased significantly to Rs 2,010 per sq.ft in 2017. This marked a substantial change of 224%. The next revision in 2023 saw the value rise to Rs 3,000 per sq.ft, reflecting a 49% increase from the previous figure. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a 10% increase from 2023.

There are no registered figures for the years 2002, 2003, or 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 432%.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that the guideline value of Mariyappa Naicken Street is below this median.

• Mariyamman Koil Street Block 80: Rs 3,300 per sq.ft (2024)
• Marutham Street: Rs 3,300 per sq.ft (2024)
• Maruthu Pandiyar Street: Rs 3,300 per sq.ft (2024)
• Manthoppu Colony: Rs 8,800 per sq.ft (2024)
• Masilamani Mudaly Street: Rs 3,300 per sq.ft (2024)
• Mastan Ali Garden: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mariyappa Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. Note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mariyappa Naicken Street?

The Sub Registrar Office that covers Mariyappa Naicken Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. This ensures that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mariyappa Naicken Street?

The current guideline value of Mariyappa Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 432% over the years.

What are the stamp duty and registration fees for this street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Mariyappa Naicken Street?

The Ashok Nagar Sub Registrar Office covers Mariyappa Naicken Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Mariyappa Naicken Street?

The land classification for Mariyappa Naicken Street is Residential Class IV Type - II.