Guideline Value for MARIAMMAN KOIL STREET

Mariamman Koil Street guideline value

The current guideline value of Mariamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mariamman Koil Street has changed

The guideline value for Mariamman Koil Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value saw a substantial increase of 49% to Rs 2,500 per sq.ft in 2023, and has now risen by 10% to the current rate of Rs 2,750 per sq.ft in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Mariamman Koil Street is below this median.

• Mariamman Koil 2nd Street: Rs 2,750 per sq.ft (2024)
• Mari Street: Rs 2,750 per sq.ft (2024)
• Manthi Naicken 6th Cross Street: Rs 2,750 per sq.ft (2024)
• Manthi Naicken 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Manthi Naicken 3rd Street: Rs 2,750 per sq.ft (2024)
• Manthi Naicken 3rd Cross Street: Rs 2,750 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. 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 Street?

The Sub Registrar Office that covers Mariamman Koil Street is the Chennai South Joint II 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 Ramapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must ensure that the sale price meets or exceeds the guideline value to comply with registration requirements.

Frequently asked questions

What is the current guideline value of Mariamman Koil Street?

The current guideline value of Mariamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 150% over the years.

What is the stamp duty on property in Mariamman Koil Street?

The stamp duty on property in Mariamman Koil Street is 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,92,500.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Mariamman Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Mariamman Koil Street?

The land classification for Mariamman Koil Street is Residential Class II Type - II, indicating its designated use for residential purposes.