Guideline Value for MUTHUMARIAMMAN KOIL STREET (WARD -15)

Muthumariamman Koil Street (Ward -15) guideline value

The current guideline value of Muthumariamman Koil Street (Ward -15) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Muthumariamman Koil Street (Ward -15) has changed

Over the years, the guideline value for Muthumariamman Koil Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. The value then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024, marking a change of +10% from the previous year. Notably, there are no recorded figures for the years 2002, 2003, and 2007.

The changes between the revisions highlight a significant increase of +49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, indicating that Muthumariamman Koil Street's 2024 figure of Rs 550 per sq.ft is below this median.

• Muthumariamman Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Muthumari Street (Kr): Rs 660 per sq.ft (2024)
• Muthu Nagar Kattankilathur (Ward -17): Rs 660 per sq.ft (2024)
• Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8): Rs 1,321 per sq.ft (2024)
• M.V.R.Nagar: Rs 1,980 per sq.ft (2024)
• Murugan Sintigate (Sa): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariamman Koil Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthumariamman Koil Street (Ward -15)?

The Sub Registrar Office that covers Muthumariamman Koil Street (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

To find your specific Sub Registrar Office, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring transparency in transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Muthumariamman Koil Street (Ward -15)?

The current guideline value of Muthumariamman Koil Street (Ward -15) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Muthumariamman Koil Street?

Muthumariamman Koil Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

How does the guideline value compare to other streets in Ninna Karai?

The guideline value of Rs 550 per sq.ft for Muthumariamman Koil Street is below the median value of Rs 1,100 per sq.ft for the village. Other streets in Ninna Karai have higher values, with some reaching up to Rs 3,500 per sq.ft.

What fees are associated with property transactions in Muthumariamman Koil Street?

When registering property in Muthumariamman Koil Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.