Guideline Value for MUTHALAMMAN KOIL STREET

Muthalamman Koil Street guideline value

The current guideline value of Muthalamman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Muthalamman Koil Street has changed

The guideline value for Muthalamman Koil Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged in the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The latest revision in 2024 has set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a range of guideline values across its 81 streets, with the 2024 figures varying from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value of Muthalamman Koil Street.

• Mosque Street: Rs 3,850 per sq.ft (2024)
• M.K. Padmanaban Street: Rs 2,700 per sq.ft (2024)
• Milagupillai Street: Rs 2,200 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)
• Mattry Square: Rs 2,200 per sq.ft (2024)
• Market Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthalamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthalamman Koil Street?

The Sub Registrar Office that covers Muthalamman Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

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 stamp duty and registration fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthalamman Koil Street?

The current guideline value of Muthalamman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, with notable changes in the intervening years.

What is the land classification for Muthalamman Koil Street?

The land classification for Muthalamman Koil Street is Residential Class II Type - I, indicating its use for residential purposes.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Muthalamman Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.