Guideline Value for Mari Amman Koil Street

Mari Amman Koil Street guideline value

The current guideline value of Mari Amman Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Mari Amman Koil Street has changed

In the 2012 revision, the guideline value for Mari Amman Koil Street was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam village, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Mari Amman Koil Street's 2024 figure below that median.

• Mariya Street: Rs 1,300 per sq.ft (2024)
• Marudhi Nagar: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Marudhi Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Mari Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. 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 to estimate your costs.

Which Sub Registrar Office covers Mari Amman Koil Street?

The Sub Registrar Office that covers Mari Amman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mari Amman Koil Street?

The current guideline value of Mari Amman Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023. However, it increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values. For example, Mariya Street and Mari Amman Koil Street both have a guideline value of Rs 1,300 per sq.ft, while streets like Marudhi Nagar have a guideline value of Rs 2,750 per sq.ft.

What fees are associated with buying property in Mari Amman Koil Street?

When buying property in Mari Amman Koil Street, buyers must pay stamp duty at 7% of the guideline value and a registration fee at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office covering Mari Amman Koil Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information about your SRO through the provided link.