Guideline Value for MAAKALIAMMAN KOIL NAGAR

Maakaliamman Koil Nagar guideline value

The current guideline value of Maakaliamman Koil Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is located in Ernavur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Maakaliamman Koil Nagar has changed

The guideline value for Maakaliamman Koil Nagar has seen significant changes over the years. In 2007, the value was Rs 350 per sq.ft, which increased dramatically to Rs 1,300 per sq.ft in 2012. However, it decreased to Rs 871 per sq.ft by 2017. Following this, the value rose to Rs 1,300 per sq.ft in 2023 and then reached Rs 1,400 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 300%. The most notable changes occurred between 2007 and 2012, where the value surged by 271%. The value saw a 49% increase from 2017 to 2023, and an 8% increase from 2023 to 2024.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Maakaliamman Koil Nagar is below this median.

• Mahalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Manali Express Road: Rs 3,300 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,400 per sq.ft (2024)
• Mettu Street: Rs 1,400 per sq.ft (2024)
• Mullai Nagar: Rs 1,600 per sq.ft (2024)
• Kasi Viswanathar Koilkuppam: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Maakaliamman Koil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Maakaliamman Koil Nagar?

The Maakaliamman Koil Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Ernavur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must be aware of the guideline value as it impacts the overall cost of the transaction. It is essential to consult the latest guideline values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Maakaliamman Koil Nagar?

The current guideline value of Maakaliamman Koil Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 350 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of Maakaliamman Koil Nagar?

Maakaliamman Koil Nagar is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Maakaliamman Koil Nagar?

The Thiruvottiyur Sub Registrar Office covers Maakaliamman Koil Nagar and is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Maakaliamman Koil Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000.