Guideline Value for Mayana Salai (West)

Mayana Salai (West) guideline value

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

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

The guideline value for Mayana Salai (West) has undergone several revisions over the years. In 2012, the guideline value was Rs 750 per sq.ft, which decreased to Rs 502 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 750 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 830 per sq.ft, marking an increase of 11% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Agaramthen

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

• Mayana Salai (East): 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 (West)

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, bringing the total to Rs 74,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mayana Salai (West)?

The Sub Registrar Office that covers Mayana Salai (West) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within 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 is a crucial factor in the registration process when buying or selling property in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the appropriate taxes are collected. This value ensures transparency and fairness in property transactions within the region.

Frequently asked questions

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

The current guideline value of Mayana Salai (West) 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 increased to Rs 750 per sq.ft in 2023, and is now Rs 830 per sq.ft in 2024.

What is the median guideline value in Agaramthen?

The median guideline value in Agaramthen is Rs 830 per sq.ft, which is the same as the current guideline value for Mayana Salai (West).

What are the stamp duty rates for properties in Mayana Salai (West)?

The stamp duty rate for properties in Mayana Salai (West) is 7% of the guideline value, and the registration fee is 2% of the guideline value.

Which office handles property registrations in Mayana Salai (West)?

The Tambaram Joint 1 Sub Registrar Office handles property registrations in Mayana Salai (West), located at No.26, Mes Road, East Tambaram, Chennai-600059.