Guideline Value for MARIAMMAN KOIL STREET

Mariamman Koil Street guideline value

The current guideline value of Mariamman Koil Street in Arumbakkam village, under the Kodambakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - III 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 700 per sq.ft. It increased significantly to Rs 3,500 per sq.ft in 2012, marking a 400% rise. However, by 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the current revision in 2024 has set it at Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

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 443%.

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 value for these streets is Rs 6,000 per sq.ft, indicating that Mariamman Koil Street's 2024 figure is below the median.

• Mariamman Koil Street-Ashok Nagar: Rs 5,000 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, resulting in a total of Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mariamman Koil Street?

The Sub Registrar Office that covers Mariamman Koil Street 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the property transaction.

Additionally, the guideline value helps in establishing a baseline for property transactions in the area. It is essential for both parties to consider this value when negotiating the sale price to ensure that the transaction is in line with local regulations.

Frequently asked questions

What is the current guideline value of Mariamman Koil Street?

The current guideline value of Mariamman Koil Street is Rs 3,800 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 3,800 per sq.ft in 2024, marking an overall increase of 443% over the years.

What are the registration fees for property in Mariamman Koil Street?

The registration fees for property transactions are based on the guideline value. For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000.

Where is the Sub Registrar Office for Mariamman Koil Street located?

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

What is the land classification for Mariamman Koil Street?

Mariamman Koil Street falls under the Residential Class IV Type - III land classification as per the current guidelines.