Guideline Value for MUTHUMARIAMMAN KOIL STREET

Muthumariamman Koil Street guideline value

The current guideline value of Muthumariamman Koil Street in Serapanancheri village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Special Type - I.

How the guideline value of Muthumariamman Koil Street has changed

The guideline value for Muthumariamman Koil Street has undergone several revisions. In 2017, the value was Rs 603 per sq.ft, which increased to Rs 900 per sq.ft in 2023. The latest revision in 2024 saw a further increase to Rs 990 per sq.ft, marking a 10% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, there has been a significant increase of 64%. These changes indicate a consistent upward trend in the guideline value over the years.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,440 per sq.ft, with a median value of Rs 720 per sq.ft. Muthumariamman Koil Street's guideline value is above this median, reflecting its unique position within the village.

• Mejastic Nagar Extn 1 to 5: Rs 720 per sq.ft (2024)
• Mejastic Nagar: Rs 720 per sq.ft (2024)
• Mahalakshmi Nagar Phase I: Rs 990 per sq.ft (2024)
• Princy Nagar: Rs 720 per sq.ft (2024)
• Priya Nagar: Rs 720 per sq.ft (2024)
• Sai Baba Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthumariamman Koil Street?

The Sub Registrar Office that covers Muthumariamman Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to assess the applicable charges, ensuring that the fees are aligned with the current market standards as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Muthumariamman Koil Street?

The current guideline value of Muthumariamman Koil Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023, and now to Rs 990 per sq.ft in 2024. Notably, there are no figures for the years 2002, 2003, 2007, and 2012.

What is the land classification for Muthumariamman Koil Street?

Muthumariamman Koil Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Muthumariamman Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.