Guideline Value for Mariyapuram

Mariyapuram guideline value

The current guideline value of Mariyapuram, located in Parangimalai village under the Chennai South Joint II SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Mariyapuram has changed

The guideline value of Mariyapuram has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 236 per sq.ft. This increased to Rs 320 per sq.ft in 2003, marking a change of +36%. The next significant jump occurred in 2007, where the value rose to Rs 750 per sq.ft, reflecting an increase of +134%. In 2012, the value was revised to Rs 3,000 per sq.ft, which was a substantial +300% increase from the previous revision. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a decline of -33%.

In 2023, the guideline value was set at Rs 3,000 per sq.ft, and it saw another increase to Rs 3,300 per sq.ft in the 2024 revision, which is a +10% change. Overall, from 2002 to 2024, the guideline value has increased by +1298%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the guideline value of Mariyapuram below the median.

• Market Lane: Rs 3,850 per sq.ft (2024)
• Market Street: Rs 5,500 per sq.ft (2024)
• Margo Street: Rs 3,300 per sq.ft (2024)
• Margo Lane: Rs 3,300 per sq.ft (2024)
• Mathiyas Nagar: Rs 3,300 per sq.ft (2024)
• Mangaliamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mariyapuram

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. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariyapuram?

The Sub Registrar Office that covers Mariyapuram is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the property registration process in Parangimalai. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid. This ensures that the transaction is officially recorded and that the applicable taxes are collected.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. The higher of the guideline value or the sale price is considered for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Mariyapuram?

The current guideline value of Mariyapuram 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 increased from Rs 236 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1298% over the years.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft for the year 2024.

What are the stamp duty and registration fees for a property in Mariyapuram?

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 is the Sub Registrar Office for Mariyapuram located?

The Sub Registrar Office for Mariyapuram is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.