Guideline Value for MUTHATCHIAMMAN KOIL STREET

Muthatchiamman Koil Street guideline value

The current guideline value of Muthatchiamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Muthatchiamman Koil Street has changed

The guideline value for Muthatchiamman Koil Street has seen several revisions over the years. In 2002, the value was Rs 496 per sq.ft. This increased to Rs 547 per sq.ft in 2003, representing a change of +10%. The value then rose significantly to Rs 700 per sq.ft in 2007, marking an increase of +28%. Following this, in 2012, the value was revised to Rs 3,000 per sq.ft, which was a substantial increase of +329%. However, the value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of -33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, showing a change of +10%.

There are no figures available for the revisions in the years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by +565%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Muthatchiamman Koil Street's 2024 guideline value is below this median.

• Muthumariamman Koil Street (Sandrorpalayam): Rs 5,000 per sq.ft (2024)
• Naganatha Nagar: Rs 3,300 per sq.ft (2024)
• Muralidharan Street (New Rangarajapuram): Rs 6,000 per sq.ft (2024)
• Munirathinam Street: Rs 4,400 per sq.ft (2024)
• Narasimmalu Street: Rs 6,000 per sq.ft (2024)
• Natarajapuram Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Muthatchiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthatchiamman Koil Street?

The Sub Registrar Office that covers Muthatchiamman Koil Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an important reference when buying or selling property in Arumbakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is set by the government and may differ from the actual sale price.

When registering a property, the buyer is required to pay stamp duty based on the higher of the guideline value or the sale price. 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 Muthatchiamman Koil Street?

The current guideline value of Muthatchiamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 496 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +565%.

What is the land classification for Muthatchiamman Koil Street?

Muthatchiamman Koil Street is classified as Residential Class V Type - I under the Kodambakkam SRO.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Muthatchiamman Koil Street?

The Kodambakkam Sub Registrar Office covers Muthatchiamman Koil Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.