Guideline Value for MARIAMMAN KOIL 2ND CROSS ST.

Mariamman Koil 2nd Cross St. guideline value

The current guideline value of Mariamman Koil 2nd Cross St. is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mariamman Koil 2nd Cross St. has changed

The guideline value for Mariamman Koil 2nd Cross St. has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased by 33% to Rs 1,340 per sq.ft. The next revision in 2023 saw a significant increase of 49%, bringing the value up to Rs 2,000 per sq.ft. As of the latest revision in 2024, the guideline value is now Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Mariamman Koil 2nd Cross St. below that median.

• Marriyamman Cross Street: Rs 3,300 per sq.ft (2024)
• Marriyamman Koil Street: Rs 3,850 per sq.ft (2024)
• Malliga Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Malliga Nagar 2nd & 3rd Street: Rs 3,850 per sq.ft (2024)
• Malliga Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Munavar Avenue (4 & 5th Street): Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Mariamman Koil 2nd Cross St.

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariamman Koil 2nd Cross St.?

The Mariamman Koil 2nd Cross St. is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Mariamman Koil 2nd Cross St.?

The current guideline value of Mariamman Koil 2nd Cross St. is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Mariamman Koil 2nd Cross St.?

The land classification for Mariamman Koil 2nd Cross St. is Residential Class II Type - I.

What is the registration office for Mariamman Koil 2nd Cross St.?

The registration office for Mariamman Koil 2nd Cross St. is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Issa Pallavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is charged at 7%, along with a registration fee of 2% on the guideline value.