Guideline Value for MUTHUMARIAMMAN KOIL STREET (SANDRORPALAYAM)

Muthumariamman Koil Street (Sandrorpalayam) guideline value

The current guideline value of Muthumariamman Koil Street (Sandrorpalayam) is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Muthumariamman Koil Street (Sandrorpalayam) has changed

The guideline value for Muthumariamman Koil Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 5,000 per sq.ft, which represents a 9% increase from the 2023 revision of Rs 4,600 per sq.ft. Prior to that, in 2017, the guideline value was Rs 3,082 per sq.ft, indicating a significant increase of 49% by 2023. The 2012 revision also recorded a value of Rs 4,600 per sq.ft, showing a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available for Muthumariamman Koil Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, making the 2024 figure for Muthumariamman Koil Street below this median.

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

Stamp duty and registration fee for property in Muthumariamman Koil Street (Sandrorpalayam)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees together to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthumariamman Koil Street (Sandrorpalayam)?

The Sub Registrar Office that covers Muthumariamman Koil Street (Sandrorpalayam) 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 plays a crucial role in property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is set by the government and reflects the minimum value for registration purposes.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded fairly and transparently, adhering to legal requirements.

Frequently asked questions

What is the current guideline value of Muthumariamman Koil Street?

The current guideline value of Muthumariamman Koil Street (Sandrorpalayam) is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,600 per sq.ft in 2023 to Rs 5,000 per sq.ft in 2024, marking a 9% increase. It was Rs 3,082 per sq.ft in 2017, which increased by 49% to 2023.

What is the land classification for Muthumariamman Koil Street?

The land classification for Muthumariamman Koil Street (Sandrorpalayam) is Residential Class III Type - I. This classification indicates the type of residential development allowed in the area.

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

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

How is stamp duty calculated for properties in Arumbakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected for registration purposes.