Guideline Value for Mayanapuram 5th Street

Mayanapuram 5th Street guideline value

The current guideline value of Mayanapuram 5th 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 5th Street has changed

The guideline value for Mayanapuram 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This figure saw a significant increase to Rs 2,700 per sq.ft in 2012, marking a rise of 1250%. However, between 2012 and 2017, the value dropped to Rs 1,809 per sq.ft, reflecting a decrease of 33%. Following this, the value rose again to Rs 2,700 per sq.ft in 2023, a substantial 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.

The register has no figures for Mayanapuram 5th 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, there are 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 value for these streets is Rs 2,200 per sq.ft, placing Mayanapuram 5th Street's 2024 figure above this median.

• Mayanapuram 4th Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 3rd Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 2nd Street: Rs 2,900 per sq.ft (2024)
• Mayanapuram 1st 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 5th 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, totaling Rs 2,61,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mayanapuram 5th Street?

The Sub Registrar Office that covers Mayanapuram 5th 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 essential factor when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value of a property, which is crucial during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of the transaction.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, which are based on the higher of the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Mayanapuram 5th Street?

The current guideline value of Mayanapuram 5th 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 significantly, starting from Rs 200 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 1350%.

What are the stamp duty and registration fees for properties in Mayanapuram 5th Street?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,61,000.

Which Sub Registrar Office is responsible for Mayanapuram 5th Street?

The Selaiyur Sub Registrar Office is responsible for Mayanapuram 5th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Mayanapuram 5th Street?

Mayanapuram 5th Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.