Guideline Value for Mayanapuram

Mayanapuram guideline value

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

How the guideline value of Mayanapuram has changed

The guideline value for Mayanapuram has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a remarkable increase of 1250%. However, this value dropped to Rs 1,809 per sq.ft in 2017, a decrease of 33%. The subsequent revisions saw the value rise again to Rs 2,700 per sq.ft in 2023, and now it stands at Rs 2,900 per sq.ft in 2024, which is a 7% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 1350%. The jumps in values reflect the changing landscape of property pricing in the area, with the most recent revision indicating a positive trend in valuation.

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 value in this village is Rs 2,200 per sq.ft, positioning Mayanapuram's 2024 figure above this median.

• Mayanapuram 1st Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty, charged at 7%, would be 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 and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Mayanapuram?

The Sub Registrar Office that covers Mayanapuram 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 is a critical factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during registration.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mayanapuram?

The current guideline value of Mayanapuram 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 land classification of Mayanapuram?

Mayanapuram is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Mayanapuram?

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

How is stamp duty calculated for properties in Mayanapuram?

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