Guideline Value for Mayana Salai

Mayana Salai guideline value

The current guideline value of Mayana Salai is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Mayana Salai has changed

Over the years, the guideline value of Mayana Salai has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased to Rs 400 per sq.ft in the 2023 revision and further rose to Rs 440 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Mayana Salai's 2024 figure below this median.

• Mav Mummurthi Avenue: Rs 1,650 per sq.ft (2024)
• M A V Manickam Avenue All Streets: Rs 660 per sq.ft (2024)
• M.A.V. Balamurugan Avenue: Rs 1,100 per sq.ft (2024)
• Manickam Avenue Main Road: Rs 660 per sq.ft (2024)
• M.M. Nagar Phase -3: Rs 1,650 per sq.ft (2024)
• Mumurthy Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mayana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mayana Salai?

The Sub Registrar Office that covers Mayana Salai is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kaspapuram

The guideline value plays a crucial role in the property registration process in Kaspapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must ensure that the sale price is not below the guideline value to avoid complications during registration.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mayana Salai?

The current guideline value of Mayana Salai is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Mayana Salai?

Mayana Salai is classified as Residential Class II Type - I under the Tambaram Joint 1 SRO.

What are the stamp duty and registration fees for properties in Mayana Salai?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mayana Salai?

The Sub Registrar Office for Mayana Salai is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.