Guideline Value for MARIYAMMAN KOIL STREET

Mariyamman Koil Street guideline value

The current guideline value of Mariyamman Koil Street is Rs 126 per sq.ft, effective from 1 July 2024. This street is located in Salavakkam village, under the Salavakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mariyamman Koil Street has changed

The guideline value for Mariyamman Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 125 per sq.ft. This was followed by a decrease to Rs 84 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 126 per sq.ft, a figure that remained unchanged in the 2024 revision.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 1%.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 150 per sq.ft, which means Mariyamman Koil Street's 2024 figure is below this median.

• Maniyakara Street @ Munichief Street: Rs 126 per sq.ft (2024)
• Mettu Street: Rs 126 per sq.ft (2024)
• Nakshatra Avenue: Rs 150 per sq.ft (2024)
• Nakshatra Nagar: Rs 100 per sq.ft (2024)
• Karuneegar Street: Rs 150 per sq.ft (2024)
• Padasalai Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Mariyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 126 per sq.ft, the total guideline value would be Rs 1,26,000. The stamp duty at 7% would amount to Rs 8,820, and the registration fee at 2% would be Rs 2,520, bringing the total fees to Rs 11,340. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariyamman Koil Street?

The Sub Registrar Office that covers Mariyamman Koil Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Salavakkam, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. The guideline value is set by the government and serves as a benchmark for property transactions, ensuring that the fees are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value can impact the financial obligations associated with property registration, making it a key factor in the buying and selling process.

Frequently asked questions

What is the current guideline value of Mariyamman Koil Street?

The current guideline value of Mariyamman Koil Street is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2012 to Rs 84 per sq.ft in 2017, then increased to Rs 126 per sq.ft in 2023 and remained the same in 2024.

What is the land classification for Mariyamman Koil Street?

Mariyamman Koil Street is classified as Residential Class II Type - I.

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

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mariyamman Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 11,340.