Guideline Value for MUTHUMARIAMMAN KOIL STREET (WARD -15)

Muthumariamman Koil Street (Ward -15) guideline value

The current guideline value for Muthumariamman Koil Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

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

In the 2012 revision, the guideline value was Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 268 per sq.ft, reflecting a drop of 33%. The 2023 revision increased the value to Rs 400 per sq.ft, and the most recent 2024 revision set it at Rs 440 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The 2017 and 2023 revisions are the only ones with recorded values, while the revisions for 2002, 2003, and 2007 do not have any figures for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value for Muthumariamman Koil Street (Ward -15) is below this median.

• Muthumariamman Koil Street (Ward -17): Rs 550 per sq.ft (2024)
• Muthumari Street (Kr): Rs 660 per sq.ft (2024)
• Muthu Nagar Kattankilathur (Ward -17): Rs 550 per sq.ft (2024)
• Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8): Rs 1,320 per sq.ft (2024)
• Murugan Sintigate (Sa): Rs 440 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,320 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total of Rs 39,600. 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 (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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is assessed to determine the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Muthumariamman Koil Street (Ward -15)?

The land classification for Muthumariamman Koil Street (Ward -15) is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

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

How is the stamp duty calculated for property in Muthumariamman Koil Street (Ward -15)?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,40,000, the stamp duty at 7% would be Rs 30,800.