Guideline Value for Mariyapuram Mada Koil First Street

Mariyapuram Mada Koil First Street guideline value

The current guideline value of Mariyapuram Mada Koil First Street is Rs 3,300 per sq.ft. This street is located in Nandhambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Mariyapuram Mada Koil First Street has changed

The guideline value for Mariyapuram Mada Koil First Street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial increase of 650%. However, this value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and further increased by 10% to the current value of Rs 3,300 per sq.ft effective from 1 July 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Nandhambakkam

Nandhambakkam has a total of 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft as of 2024. The median guideline value in this village is Rs 3,900 per sq.ft, placing Mariyapuram Mada Koil First Street's current value below this median.

• Mariapuram Mada Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Maniam's mango grove: Rs 5,000 per sq.ft (2024)
• Mount Poondamalli Road: Rs 8,300 per sq.ft (2024)
• Kuthalamman Koil Street: Rs 3,300 per sq.ft (2024)
• Muthu Mariyamman Street: Rs 3,300 per sq.ft (2024)
• Nandampakkam Colony Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mariyapuram Mada Koil First 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, bringing the total cost for stamp duty and registration to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariyapuram Mada Koil First Street?

The Mariyapuram Mada Koil First Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mariyapuram Mada Koil First Street?

The current guideline value of Mariyapuram Mada Koil First 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 significantly from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 725% over this period.

What is the median guideline value in Nandhambakkam?

The median guideline value in Nandhambakkam is Rs 3,900 per sq.ft, which is higher than the current value of Mariyapuram Mada Koil First Street.

What are the registration fees for property transactions?

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.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.