Guideline Value for MARIAMMAN KOIL STREET-ASHOK NAGAR

Mariamman Koil Street-Ashok Nagar guideline value

The current guideline value of Mariamman Koil Street-Ashok Nagar is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mariamman Koil Street-Ashok Nagar has changed

The guideline value for Mariamman Koil Street-Ashok Nagar has undergone several revisions since 2007. In 2007, the guideline value was Rs 700 per sq.ft, which saw a significant increase to Rs 4,600 per sq.ft in 2012. However, this value decreased to Rs 3,082 per sq.ft in 2017. The value then rose sharply to Rs 4,600 per sq.ft in 2023, before reaching the current rate of Rs 5,000 per sq.ft in 2024, reflecting a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 indicates a substantial rise of 614%. It is important to note that there are no figures available for this street in the revisions of 2002 and 2003.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, placing Mariamman Koil Street-Ashok Nagar's 2024 figure below that median.

• Mariamman Koil Street: Rs 3,800 per sq.ft (2024)
• Maraimalai Adigalar Street (Razack Garden): Rs 6,000 per sq.ft (2024)
• Maruthai Street: Rs 3,800 per sq.ft (2024)
• Mangali Nagar I St Street: Rs 6,600 per sq.ft (2024)
• Mangali Nagar II Nd Street: Rs 6,600 per sq.ft (2024)
• Mangali Nagar III Rd Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Mariamman Koil Street-Ashok Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. 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 Mariamman Koil Street-Ashok Nagar?

The Sub Registrar Office that covers Mariamman Koil Street-Ashok Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mariamman Koil Street-Ashok Nagar?

The current guideline value of Mariamman Koil Street-Ashok Nagar is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Mariamman Koil Street-Ashok Nagar?

The land classification for Mariamman Koil Street-Ashok Nagar is Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for this area?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, and it covers Mariamman Koil Street-Ashok Nagar.