Guideline Value for MARIYAMMAN KOIL STREET

Mariyamman Koil Street guideline value

The current guideline value of Mariyamman Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam Sub Registrar Office (SRO) and is classified as Residential Class III Type - III.

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 2007 revision set the guideline value at Rs 250 per sq.ft, which saw a significant increase to Rs 1,500 per sq.ft in both the 2012 and 2023 revisions. However, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

In the latest revision for 2024, the guideline value increased by 7% from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 540% in the guideline value.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, making the current value of Mariyamman Koil Street below that median.

• Mariyamma Nagar: Rs 2,500 per sq.ft (2024)
• Maruthi Flats: Rs 2,900 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,600 per sq.ft (2024)
• Menabedu Road (Kanchinakuppam): Rs 2,500 per sq.ft (2024)
• Malligai Avenue: Rs 1,600 per sq.ft (2024)
• Malar Nagar Mgr.Street: Rs 2,500 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. It is important to note that the 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 Mariyamman Koil Street?

The Mariyamman Koil Street falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mariyamman Koil Street?

The current guideline value of Mariyamman Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 540% over the years.

What are the other streets in Korattur with their guideline values?

Other streets in Korattur include Mariyamma Nagar at Rs 2,500 per sq.ft, Maruthi Flats at Rs 2,900 per sq.ft, and Meenakshi Nagar at Rs 1,600 per sq.ft, among others.

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

The stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is 2%. For example, a property valued at Rs 16,00,000 would incur a total fee of Rs 1,44,000.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.