Guideline Value for Mayanapuram 1st Street

Mayanapuram 1st Street guideline value

The current guideline value of Mayanapuram 1st Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mayanapuram 1st Street has changed

Over the years, the guideline value of Mayanapuram 1st Street has seen several revisions. The 2012 revision set the value at Rs 2,700 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,809 per sq.ft. The 2023 revision increased the value to Rs 2,700 per sq.ft, and the most recent 2024 revision raised it to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Mayanapuram 1st Street's 2024 value above this median.

• Mayanapuram: Rs 2,900 per sq.ft (2024)
• Mayanapuram 2nd Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 3rd Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 4th Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 5th Street: Rs 2,900 per sq.ft (2024)
• MES Colony: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Mayanapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. Please 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 detailed calculations.

Which Sub Registrar Office covers Mayanapuram 1st Street?

The Sub Registrar Office that covers Mayanapuram 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is an important factor in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Mayanapuram 1st Street?

The current guideline value of Mayanapuram 1st Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase. The value was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

What is the land classification of Mayanapuram 1st Street?

Mayanapuram 1st Street is classified as Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Mayanapuram 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 29,00,000, the stamp duty at 7% would be Rs 2,03,000.