Guideline Value for Mariyappan Lane

Mariyappan Lane guideline value

The current guideline value of Mariyappan Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mariyappan Lane has changed

According to the register, there are no figures for Mariyappan Lane in the revisions of 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 7,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 7,700 per sq.ft, marking a change of +10% from the previous year.

The guideline value for Mariyappan Lane has seen a steady increase over the years, with the 2024 figure being Rs 7,700 per sq.ft, which is below the median value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a range of guideline values for its streets, with figures from Rs 4,400 to Rs 25,300 per sq.ft. Mariyappan Lane's current guideline value is Rs 7,700 per sq.ft, which is below the median of Rs 8,800 per sq.ft. The following are other streets in Mylapore Part 1:

• Mariyappan Street: Rs 7,700 per sq.ft (2024)
• Masilamani Road & Street: Rs 7,700 per sq.ft (2024)
• Mani Mudaliyar Thottam: Rs 7,700 per sq.ft (2024)
• Maharani Chinnamma Road: Rs 15,400 per sq.ft (2024)
• Maharaja Surya Road: Rs 15,400 per sq.ft (2024)
• Maharaja Badmavathi Street: Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mariyappan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mariyappan Lane?

The Sub Registrar Office that covers Mariyappan Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When buyers and sellers engage in a transaction, the guideline value is considered to ensure that the appropriate taxes are calculated. This value helps maintain transparency and fairness in property dealings within the locality.

Frequently asked questions

What is the current guideline value of Mariyappan Lane?

The current guideline value of Mariyappan Lane is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mariyappan Lane has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Mariyappan Lane's current value is below this median.

What are the stamp duty and registration fees for properties in Mariyappan Lane?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Mariyappan Lane located?

The Sub Registrar Office for Mariyappan Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office falls under the Chennai Central Joint I SRO.