Guideline Value for THEJABAI (MARVADI THOTTAM)

Thejabai (Marvadi Thottam) guideline value

The current guideline value of Thejabai (Marvadi Thottam) is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Thejabai (Marvadi Thottam) has changed

The guideline value for Thejabai (Marvadi Thottam) has undergone several revisions over the years. Starting from Rs 783 per sq.ft in 2002, it increased to Rs 870 per sq.ft in 2003, marking an 11% rise. The value then saw a further increase of 15%, reaching Rs 1,000 per sq.ft in 2007. In 2012, the value jumped significantly to Rs 3,000 per sq.ft, reflecting a 200% increase. However, between 2012 and 2017, the guideline value decreased by 33% to Rs 2,010 per sq.ft. The most recent revision in 2024 has seen a substantial increase of 64%, bringing the value to Rs 3,300 per sq.ft.

Notably, there is no figure available for the year 2023 for this street in the register. Overall, from 2002 to 2024, the guideline value has increased by 321%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Thejabai (Marvadi Thottam) is currently below this median value.

• Thengoor Selva Vinayagar Koil Street (Tsv): Rs 7,100 per sq.ft (2024)
• Thiagarajan Puram: Rs 7,700 per sq.ft (2024)
• Thideer Nagar: Rs 3,300 per sq.ft (2024)
• THANDAVARAYAN STREET (Near Madha Church Road): Rs 7,100 per sq.ft (2024)
• Thandavarayan Street (Mrc Nagar): Rs 17,600 per sq.ft (2024)
• Thanappa Street(Lane): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thejabai (Marvadi Thottam)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thejabai (Marvadi Thottam)?

Thejabai (Marvadi Thottam) falls under the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To locate your SRO, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, making it essential for both buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Thejabai (Marvadi Thottam)?

The current guideline value of Thejabai (Marvadi Thottam) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 783 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 321% over this period.

What is the land classification of Thejabai (Marvadi Thottam)?

Thejabai (Marvadi Thottam) is classified as Residential Class V Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated in Mylapore?

Stamp duty in Mylapore is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.