Guideline Value for MUTHALAMMAN KOIL STREET

Muthalamman Koil Street guideline value

The current guideline value of Muthalamman Koil Street, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Muthalamman Koil Street has changed

The guideline value for Muthalamman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 2,000 per sq.ft in the 2023 revision, and further rose to Rs 2,160 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for the village is Rs 2,160 per sq.ft, which is equal to the current figure for Muthalamman Koil Street.

• Muthuswamy Nagar: Rs 2,160 per sq.ft (2024)
• Mullai Nagar: Rs 2,160 per sq.ft (2024)
• Mylarasu Nagar: Rs 2,750 per sq.ft (2024)
• Nagappan Road: Rs 2,160 per sq.ft (2024)
• Nanmangalam Road: Rs 2,420 per sq.ft (2024)
• Natrajapuram 1st Street: Rs 2,160 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 guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to note that the 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 information.

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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Nemilicherry. 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. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure that they are meeting the necessary legal and financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Muthalamman Koil Street?

The current guideline value of Muthalamman Koil Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification of Muthalamman Koil Street?

Muthalamman Koil Street is classified under Residential Class II Type - I.

What are the stamp duty and registration fees for property in Muthalamman Koil Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total cost would be Rs 1,94,400.

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

The Sub Registrar Office for Muthalamman Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.