Guideline Value for MOPPILIAMMAN KOIL STREET

Moppiliamman Koil Street guideline value

The current guideline value of Moppiliamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Moppiliamman Koil Street has changed

The guideline value for Moppiliamman Koil Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 495 per sq.ft. In 2003, it increased to Rs 565 per sq.ft, marking a 14% rise. The next significant change occurred in 2007 when the value jumped to Rs 750 per sq.ft, reflecting a 33% increase.

In 2012, the guideline value was revised to Rs 2,000 per sq.ft, which was a decrease of 33% from the previous figure. The 2017 revision saw a substantial increase to Rs 1,340 per sq.ft, representing a 49% rise. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, before the current figure of Rs 2,200 per sq.ft was established in 2024, marking a 10% increase.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in the area is Rs 4,900 per sq.ft, placing Moppiliamman Koil Street's 2024 figure below that median.

• Mullai Nagar: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 10th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 11th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 1st STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 2nd STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 3rd STREET: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Moppiliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moppiliamman Koil Street?

The Sub Registrar Office that covers Moppiliamman Koil Street is 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 details.

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

The guideline value is a critical factor when registering property transactions in Villivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is sold, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency in transactions and helps in maintaining a standard valuation across the region.

Frequently asked questions

What is the current guideline value of Moppiliamman Koil Street?

The current guideline value of Moppiliamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 495 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 344% over the years.

What is the land classification of Moppiliamman Koil Street?

Moppiliamman Koil Street is classified as Residential Class V Type - I, indicating its designation for residential use.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.

Which office handles property registrations for Moppiliamman Koil Street?

The Villivakkam Sub Registrar Office is responsible for property registrations for Moppiliamman Koil Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.