Guideline Value for Maya Street

Maya Street guideline value

The current guideline value of Maya Street, located in Ambattur village under the Ambattur SRO, is Rs 4,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Maya Street has changed

The guideline value for Maya Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,700 per sq.ft, which then decreased to Rs 2,479 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decline of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 8% in the guideline value.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value is Rs 3,600 per sq.ft, making Maya Street's 2024 figure of Rs 4,000 per sq.ft above this median.

• Maruthi Street: Rs 4,000 per sq.ft (2024)
• Menan Street: Rs 4,000 per sq.ft (2024)
• Manthopu Colony: Rs 2,500 per sq.ft (2024)
• Manika Vinayagar Koil St. (Ramapuram): Rs 3,600 per sq.ft (2024)
• Manganath Street (Manjunathan Street): Rs 3,600 per sq.ft (2024)
• Mangalapuram Thiru-vi-ka Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Maya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total fees to Rs 3,60,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maya Street?

The Sub Registrar Office that covers Maya Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ambattur. It determines the stamp duty and registration fees that need to be paid, which are based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately for taxation purposes. This value is regularly updated to reflect changes in the real estate market, ensuring that property transactions are conducted fairly.

Frequently asked questions

What is the current guideline value of Maya Street?

The current guideline value of Maya Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024.

What is the land classification for Maya Street?

The land classification for Maya Street is Residential Special Type - II.

What are the stamp duty and registration fees for property in Maya Street?

For a property valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000 and the registration fee would be Rs 80,000, totaling Rs 3,60,000.

Which Sub Registrar Office covers Maya Street?

The Ambattur Sub Registrar Office covers Maya Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.