Guideline Value for Mariamman Koil 2nd Street

Mariamman Koil 2nd Street guideline value

The current guideline value of Mariamman Koil 2nd Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the jurisdiction of the Selaiyur SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Mariamman Koil 2nd Street has changed

The guideline value for Mariamman Koil 2nd Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 900 per sq.ft, which later decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and currently stands at Rs 950 per sq.ft as per the 2024 revision. It is important to note that the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The increase from 2023 to 2024 is 6%. Overall, when comparing the figures from 2012 to 2024, there has been a slight increase of 6% in the guideline value.

Guideline values in Selaiyur

In Selaiyur, there are a total of 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 guideline value of Mariamman Koil 2nd Street below this median.

• Mariamman Koil 2nd Main Road: Rs 950 per sq.ft (2024)
• Mariamman Koil 3rd Cross Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 2nd Cross Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 3rd Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 4th Cross Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 1st Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Mariamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty, calculated at 7%, would be Rs 66,500, while the registration fee at 2% would be Rs 19,000. Together, these fees amount to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariamman Koil 2nd Street?

The Mariamman Koil 2nd Street falls under 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value is used to assess the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas, including Mariamman Koil 2nd Street.

Frequently asked questions

What is the current guideline value of Mariamman Koil 2nd Street?

The current guideline value of Mariamman Koil 2nd Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase from Rs 900 per sq.ft in 2023 to Rs 950 per sq.ft in 2024. The value decreased from Rs 900 in 2012 to Rs 603 in 2017, and then increased significantly to Rs 900 in 2023.

What is the land classification for Mariamman Koil 2nd Street?

The land classification for Mariamman Koil 2nd Street is Residential Class IV Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000, totaling Rs 85,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Mariamman Koil 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Mariamman Koil 2nd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.