Guideline Value for Mariamman Koil 2nd Street

Mariamman Koil 2nd Street guideline value

The current guideline value of Mariamman Koil 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

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

The guideline value for Mariamman Koil 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. In 2023, the value increased to Rs 2,500 per sq.ft, and the latest revision in 2024 set the value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, and from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for this street in 2002, 2003, and 2007.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Mariamman Koil 2nd Street is below this median.

• Mariamman Koil Street: Rs 2,750 per sq.ft (2024)
• Mari Street: Rs 2,750 per sq.ft (2024)
• Manthi Naicken 6th Cross Street: Rs 2,750 per sq.ft (2024)
• Manthi Naicken 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Manthi Naicken 3rd Street: Rs 2,750 per sq.ft (2024)
• Manthi Naicken 3rd Cross Street: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariamman Koil 2nd Street?

The Sub Registrar Office covering Mariamman Koil 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized valuation of the property.

When a property is registered, the guideline value or the sale price, whichever is higher, is taken into account for calculating the applicable duties and fees. This ensures that the registration process is transparent and consistent across different properties in the area.

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 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

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

Mariamman Koil 2nd Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Mariamman Koil 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Mariamman Koil 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 27,50,000, with the stamp duty and registration fees calculated accordingly.