Guideline Value for MUTHUMARIAMMAN KOIL STREET (WARD -17)

Muthumariamman Koil Street (Ward -17) guideline value

The current guideline value of Muthumariamman Koil Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Muthumariamman Koil Street (Ward -17) has changed

The guideline value for Muthumariamman Koil Street has seen several revisions over the years. In the 2012 revision, the value was Rs 600 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. 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 for these streets is Rs 1,100 per sq.ft, indicating that Muthumariamman Koil Street's 2024 figure is below the median.

• Muthumariamman Koil Street (Ward -15): Rs 550 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 -17)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is essential 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 information.

Which Sub Registrar Office covers Muthumariamman Koil Street (Ward -17)?

The Sub Registrar Office that covers Muthumariamman Koil Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Ninna Karai, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per the government's regulations.

Both buyers and sellers should be aware that the guideline value is used to assess the minimum value for property transactions. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Muthumariamman Koil Street (Ward -17)?

The current guideline value of Muthumariamman Koil Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Muthumariamman Koil Street?

The land classification for Muthumariamman Koil Street (Ward -17) is Residential Class I Type - III.

Which office handles the registration for Muthumariamman Koil Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Muthumariamman Koil Street (Ward -17), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property has a guideline value of Rs 6,60,000, the stamp duty would be calculated on this amount if the sale price is lower.