Guideline Value for Mayanapuram 3rd Street

Mayanapuram 3rd Street guideline value

The current guideline value of Mayanapuram 3rd Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, with a land classification of Residential Special Type - I.

How the guideline value of Mayanapuram 3rd Street has changed

The guideline value for Mayanapuram 3rd Street has seen several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 1250%. However, by 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,700 per sq.ft in 2023, showing an increase of 49%. 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.

It is important to note that the register has no figures for Mayanapuram 3rd Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 1350%.

Guideline values in Selaiyur

In Selaiyur village, there are a total of 478 streets under the Selaiyur SRO, with a 2024 guideline value range 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 3rd Street's 2024 figure above this median.

• Mayanapuram 2nd Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 4th Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 1st Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 5th Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram: Rs 2,900 per sq.ft (2024)
• MES Colony: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Mayanapuram 3rd 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, resulting in a total of Rs 2,61,000. 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 Mayanapuram 3rd Street?

The Sub Registrar Office that covers Mayanapuram 3rd 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 a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the transaction is conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Mayanapuram 3rd Street?

The current guideline value of Mayanapuram 3rd 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 200 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 1350% over the years.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, which is lower than the current guideline value of Mayanapuram 3rd Street.

What are the stamp duty and registration fees for property in Mayanapuram 3rd Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which Sub Registrar Office covers Mayanapuram 3rd Street?

The Selaiyur Sub Registrar Office covers Mayanapuram 3rd Street and is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.