Guideline Value for Mayana Salai (East)

Mayana Salai (East) guideline value

The current guideline value of Mayana Salai (East) is Rs 830 per sq.ft, effective from 1 July 2024. This street is located in Agaramthen village under the Tambaram Joint 1 SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Mayana Salai (East) has changed

The guideline value for Mayana Salai (East) has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 502 per sq.ft. Following this, the 2023 revision increased the value to Rs 750 per sq.ft, and the most recent 2024 revision has set it at Rs 830 per sq.ft.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects an increase of 11%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which is equal to the current value of Mayana Salai (East).

• Mayana Salai (West): Rs 830 per sq.ft (2024)
• M.G.R. Street: Rs 440 per sq.ft (2024)
• Manimekalai Street: Rs 830 per sq.ft (2024)
• Manimaran Street: Rs 830 per sq.ft (2024)
• M.M.Nagar: Rs 830 per sq.ft (2024)
• M.M. Nagar Phase-2: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Mayana Salai (East)

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, making the total cost for these fees Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mayana Salai (East)?

The Sub Registrar Office that covers Mayana Salai (East) 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 Agaramthen

The guideline value plays a crucial role in the registration process when buying or selling property in Agaramthen. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their real estate transactions.

Frequently asked questions

What is the current guideline value of Mayana Salai (East)?

The current guideline value of Mayana Salai (East) is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for Mayana Salai (East)?

Mayana Salai (East) falls under the Residential Class I Type - II land classification.

What are the registration fees for property in Mayana Salai (East)?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles the registration for Mayana Salai (East)?

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