Guideline Value for Mari Amman Koil Street

Mari Amman Koil Street guideline value

The current guideline value of Mari Amman Koil Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Chinnapanicheri village under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of Mari Amman Koil Street has changed

Over the years, the guideline value of Mari Amman Koil Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, followed by a decrease to Rs 335 per sq.ft in 2017. The value then rose to Rs 500 per sq.ft in 2023, and most recently, it has increased to Rs 550 per sq.ft in 2024. The register has no figure for the years 2002 and 2003.

In terms of percentage changes, from 2007 to 2012, the value increased by 150%. However, from 2012 to 2017, it decreased by 33%. The value then rose by 49% from 2017 to 2023, and there was a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Chinnapanicheri

In Chinnapanicheri, there are 14 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 675 per sq.ft. Mari Amman Koil Street's current guideline value is below this median.

• Leelavathy Nagar Annexe: Rs 800 per sq.ft (2024)
• Leelavathy Nagar: Rs 800 per sq.ft (2024)
• Moogambigai Nagar: Rs 800 per sq.ft (2024)
• Muthu Mari Amman Koil Street: Rs 550 per sq.ft (2024)
• Kothai Avenue: Rs 1,650 per sq.ft (2024)
• Nova Nagar: Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which amounts to Rs 38,500, and the registration fee at 2% totals Rs 11,000. Together, the fees amount to Rs 49,500. 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 Mari Amman Koil Street?

The Sub Registrar Office covering Mari Amman Koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Chinnapanicheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling a property, the guideline value ensures that both parties are aware of the official value set by the government, which helps in maintaining transparency in property transactions. This value is used to calculate the statutory fees associated with the registration process.

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 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 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, showing an overall increase of 175% over this period.

What are the stamp duty and registration fees for property in Mari Amman Koil Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty is Rs 38,500, and the registration fee is Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Mari Amman Koil Street?

The Kunrathur Sub Registrar Office covers Mari Amman Koil Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Mari Amman Koil Street?

Mari Amman Koil Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.