Guideline Value for Mariyappan Street

Mariyappan Street guideline value

The current guideline value of Mariyappan Street 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 Street has changed

The guideline value for Mariyappan Street has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 7,000 per sq.ft. This increased to Rs 7,700 per sq.ft in the 2024 revision, marking a change of +10% from the previous year.

With the 2024 revision, Mariyappan Street's guideline value is now Rs 7,700 per sq.ft. This value is below the median guideline 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

In Mylapore Part 1, the guideline values range from Rs 4,400 to Rs 25,300 per sq.ft, with a median of Rs 8,800 per sq.ft. Mariyappan Street's 2024 figure is below this median. Here are some other streets in Mylapore Part 1:

• Mariyappan Lane: 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 Street

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

Which Sub Registrar Office covers Mariyappan Street?

The Sub Registrar Office that covers Mariyappan Street 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 more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mariyappan Street?

The current guideline value of Mariyappan Street 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 Street was Rs 7,000 per sq.ft in 2023 and increased to Rs 7,700 per sq.ft in 2024. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft.

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

For a 1,000 sq.ft property at the guideline value of Rs 7,700 per sq.ft, the total guideline value is 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.

Which office handles the registration for properties on Mariyappan Street?

The registration for properties on Mariyappan Street is handled by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.