Guideline Value for MARIAMMAN KOIL STREET

Mariamman Koil Street guideline value

The current guideline value of Mariamman Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village under the Chennai South Joint I SRO and falls under Residential Class IV Type - II land classification.

How the guideline value of Mariamman Koil Street has changed

The guideline value for Mariamman Koil Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 804 per sq.ft in 2017, which was a 33% drop from the previous figure.

From 2017 to 2023, the guideline value rose to Rs 1,200 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase of 10% from the 2023 figure. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Mariamman Koil Street's 2024 figure is below this median.

• Maruthi Nagar: Rs 2,200 per sq.ft (2024)
• Mettu Colony: Rs 1,650 per sq.ft (2024)
• Mettu Colony 1st Street: Rs 1,650 per sq.ft (2024)
• Mettu Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Mettu Street (Vanniya): Rs 2,200 per sq.ft (2024)
• Madura Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariamman Koil Street?

The Mariamman Koil Street falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Iyyappanthangal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the sale price cannot be lower than the guideline value. This means that buyers and sellers must consider the guideline value when negotiating prices, as it directly impacts the financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mariamman Koil Street?

The current guideline value of Mariamman Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, increasing from Rs 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 1,320 per sq.ft, the total stamp duty and registration fees can amount to Rs 1,18,800 for a 1,000 sq.ft plot.

Which authority manages the guideline values in Iyyappanthangal?

The guideline values in Iyyappanthangal are managed by the Chennai South Joint I SRO, which is responsible for property registrations in the area.

Are there other streets with different guideline values in Iyyappanthangal?

Yes, there are several other streets in Iyyappanthangal with varying guideline values, ranging from Rs 1,100 to Rs 5,610 per sq.ft as per the latest revision.