Guideline Value for Mayanapuram 2nd Street

Mayanapuram 2nd Street guideline value

The current guideline value of Mayanapuram 2nd 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 2nd Street has changed

Over the years, the guideline value of Mayanapuram 2nd Street has seen significant changes. In 2007, the guideline value was Rs 200 per sq.ft, which increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 1,250%. However, from 2012 to 2017, there was a decrease to Rs 1,809 per sq.ft, representing a reduction of 33%. The value then rose to Rs 2,700 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 2,900 per sq.ft, which is a 7% increase from the previous year.

The guideline value register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are a total of 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Mayanapuram 2nd Street's 2024 value above this median.

• Mayanapuram 1st Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 3rd Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram: 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 2nd 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mayanapuram 2nd Street?

The Sub Registrar Office that covers Mayanapuram 2nd 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, 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 Selaiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. This value is set by the Registration Department and reflects the market conditions for properties in the area.

When a property is sold, the buyer must pay stamp duty 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 Mayanapuram 2nd Street?

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

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 2,900 per sq.ft in 2024, marking an overall increase of 1,350%.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, with Mayanapuram 2nd Street's 2024 value being above this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 2,61,000.

Where is the Selaiyur Sub Registrar Office located?

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