Guideline Value for Marriyamman Cross Street

Marriyamman Cross Street guideline value

The current guideline value of Marriyamman Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Marriyamman Cross Street has changed

The guideline value for Marriyamman Cross Street has seen significant changes over the years. In the 2003 revision, the value was Rs 185 per sq.ft, which increased to Rs 400 per sq.ft in 2007. The value then surged to Rs 3,000 per sq.ft in the 2012 revision, before dropping to Rs 2,010 per sq.ft in 2017. By the 2023 revision, the value rose to Rs 3,000 per sq.ft, and finally, in the 2024 revision, it reached Rs 3,300 per sq.ft. Notably, there is no figure available for the year 2002 in the register.

Examining the changes between these revisions, from 2003 to 2007, the guideline value increased by 116%. However, it decreased by 33% from 2012 to 2017. The value then saw a significant rise of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, the guideline value has increased by 1,684% from 2003 to 2024.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Marriyamman Cross Street.

• Marriyamman Koil Street: Rs 3,850 per sq.ft (2024)
• Mariamman Koil 2nd Cross St.: Rs 2,200 per sq.ft (2024)
• Malliga Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Malliga Nagar 2nd & 3rd Street: Rs 3,850 per sq.ft (2024)
• Malliga Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Munavar Avenue (4 & 5th Street): Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Marriyamman Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marriyamman Cross Street?

The Sub Registrar Office that covers Marriyamman Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. It serves as a benchmark for determining the minimum value for property transactions, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value helps in calculating the stamp duty, which is charged at a specified percentage of the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Marriyamman Cross Street?

The current guideline value of Marriyamman Cross 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 185 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,684% over this period.

What is the land classification for Marriyamman Cross Street?

Marriyamman Cross Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Pallavaram Sub Registrar Office covers Marriyamman Cross Street and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.