Guideline Value for MOTATHAMMAN KOIL 2ND STREET

Motathamman Koil 2nd Street guideline value

The current guideline value of Motathamman Koil 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Motathamman Koil 2nd Street has changed

The guideline value for Motathamman Koil 2nd Street has seen several revisions over the years. In 2002, the value was Rs 38 per sq.ft, which increased significantly to Rs 43 per sq.ft in 2003. Following this, the value experienced a substantial rise to Rs 400 per sq.ft in 2007, marking an increase of 830%. The value remained at Rs 400 per sq.ft until it jumped to Rs 1,800 per sq.ft in 2012, an increase of 350%. However, it then dropped to Rs 1,206 per sq.ft in 2017, reflecting a decrease of 33%. The most recent revisions show the value rising to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,980 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 5111%. The register has no figures for the years between 2012 and 2017, and for the years prior to 2002.

Guideline values in Manapakkam

In Manapakkam village, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value is Rs 2,530 per sq.ft, which means that the 2024 guideline value of Motathamman Koil 2nd Street is below this median.

• Motathamman Koil Street: Rs 1,980 per sq.ft (2024)
• Mount Poonamallee Road: Rs 6,600 per sq.ft (2024)
• Mugalivakkam Main Road: Rs 3,300 per sq.ft (2024)
• Mukthi Enclave: Rs 2,530 per sq.ft (2024)
• Mukthi Enclave Main Salai: Rs 2,530 per sq.ft (2024)
• Mukthi Enclave Right Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Motathamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total of Rs 1,78,200. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Motathamman Koil 2nd Street?

The Sub Registrar Office that covers Motathamman Koil 2nd Street is the Chennai South Joint I 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 here.

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

The guideline value is an essential factor in property transactions in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to 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 based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Motathamman Koil 2nd Street?

The current guideline value of Motathamman Koil 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 38 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 5111% over this period.

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

For a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Motathamman Koil 2nd Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Motathamman Koil 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value determined for property transactions?

The guideline value is determined by the local authorities and serves as a basis for calculating stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher value is used for duty calculations.