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 550 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

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

The guideline value for Muthumariamman Koil Street has undergone several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017, marking a decline of 33%. The value saw a significant increase to Rs 500 per sq.ft in 2023, and then further rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Notably, the register has no figures for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, indicating that Muthumariamman Koil Street's 2024 value of Rs 550 per sq.ft is below this median.

• Muthumariamman Koil Street (Ward -15): Rs 440 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 -17)

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

For more details, you can use the stamp duty and registration fee calculator.

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

The Muthumariamman Koil Street (Ward -17) is covered by 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 during the registration of property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is essential for both parties to understand the financial implications of the transaction. Buyers should be aware of the guideline value to ensure they are not overpaying, while sellers need to consider it when setting their sale price to comply with registration requirements.

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 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, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total of Rs 49,500 in fees based on the current guideline value.

Which Sub Registrar Office covers this street?

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