Guideline Value for MARI AMMAN KOVIL STREET

Mari Amman Kovil Street guideline value

The current guideline value of Mari Amman Kovil Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Kilakadi village, under the Salavakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mari Amman Kovil Street has changed

The guideline value for Mari Amman Kovil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 70 per sq.ft, which then changed to Rs 47 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 100 per sq.ft, reflecting an increase of 113%. The 2023 revision maintained the same value of Rs 100 per sq.ft, which will continue into the 2024 revision.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for Mari Amman Kovil Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 43%.

Guideline values in Kilakadi

In Kilakadi village, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 433 per sq.ft. The median guideline value for these streets is Rs 150 per sq.ft, positioning Mari Amman Kovil Street's 2024 value below this median.

• Marudham Nagar: Rs 101 per sq.ft (2024)
• Marudham Nagar Extension: Rs 101 per sq.ft (2024)
• Laurel Nagar: Rs 101 per sq.ft (2024)
• Mullai Nagar: Rs 101 per sq.ft (2024)
• Mullai Nagar Extension: Rs 101 per sq.ft (2024)
• Nila Nagar: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Mari Amman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, leading to a total of Rs 9,000 for these charges. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mari Amman Kovil Street?

The Sub Registrar Office that covers Mari Amman Kovil Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kilakadi. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When a property is sold or bought, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected based on the established rates. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Mari Amman Kovil Street?

The current guideline value of Mari Amman Kovil Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 47 per sq.ft in 2017, then increased to Rs 100 per sq.ft in both 2023 and 2024. Overall, from 2012 to 2024, the value has risen by 43%.

What is the land classification of Mari Amman Kovil Street?

Mari Amman Kovil Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the other streets in Kilakadi with their guideline values?

Other streets in Kilakadi include Marudham Nagar, Marudham Nagar Extension, Laurel Nagar, Mullai Nagar, Mullai Nagar Extension, and Nila Nagar, all with a guideline value of Rs 101 per sq.ft for 2024.

Where can I find the Sub Registrar Office for Mari Amman Kovil Street?

The Sub Registrar Office for Mari Amman Kovil Street is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.