Guideline Value for Malaiathamman Koil Street

Malaiathamman Koil Street guideline value

The current guideline value of Malaiathamman Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Mannurpet village, under the Konnur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Malaiathamman Koil Street has changed

The guideline value for Malaiathamman Koil Street has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 275 per sq.ft. This increased to Rs 303 per sq.ft in 2003, marking a 10% rise. The value then experienced a substantial increase of 164% to reach Rs 800 per sq.ft in 2007. Following this, the 2012 revision set the value at Rs 1,600 per sq.ft, reflecting a 100% increase from the previous figure. However, the value dropped by 33% to Rs 1,072 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,600 per sq.ft, and the most recent revision in 2024 has brought it to Rs 1,700 per sq.ft, which is a 6% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 518%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Mannurpet

In Mannurpet village, there are 38 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Malaiathamman Koil Street's 2024 guideline value above this median.

• Manickam Pillai Street: Rs 1,300 per sq.ft (2024)
• Logappa Naidu Street: Rs 1,300 per sq.ft (2024)
• Menambedu Main Road: Rs 2,300 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 1,700 per sq.ft (2024)
• Kuyavar Street: Rs 1,300 per sq.ft (2024)
• M.T.H. Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Malaiathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Malaiathamman Koil Street?

The Sub Registrar Office that covers Malaiathamman Koil Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Mannurpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on an official valuation, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Malaiathamman Koil Street?

The current guideline value of Malaiathamman Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 275 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 518% over the years.

What is the registration office for Malaiathamman Koil Street?

The registration office for Malaiathamman Koil Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties on this street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the guideline value of Rs 1,700 per sq.ft, the stamp duty would be Rs 1,19,000.

What are the guideline values of other streets in Mannurpet?

Other streets in Mannurpet have varying guideline values, with rates ranging from Rs 1,100 to Rs 6,600 per sq.ft. For instance, Manickam Pillai Street and Logappa Naidu Street both have a guideline value of Rs 1,300 per sq.ft in 2024.