Guideline Value for Mariamman Koil Cross Street

Mariamman Koil Cross Street guideline value

The current guideline value of Mariamman Koil Cross Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mariamman Koil Cross Street has changed

Over the years, the guideline value for Mariamman Koil Cross Street has seen significant changes. The 2007 revision recorded a value of Rs 250 per sq.ft, which rose dramatically to Rs 1,300 per sq.ft in 2012, marking an increase of 420%. However, the value decreased to Rs 871 per sq.ft in 2017, reflecting a decline of 33%. The subsequent 2023 revision brought the value back up to Rs 1,300 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,400 per sq.ft, representing an 8% increase from the previous year.

It is important to note that the guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 460%, showcasing a significant rise over the years.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Mariamman Koil Cross Street is below this median.

• Mariamman Koil Street: Rs 1,400 per sq.ft (2024)
• Maruthi Nagar Main Road 1st Street: Rs 2,700 per sq.ft (2024)
• Manavala Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Manavala Nagar Extn: Rs 2,200 per sq.ft (2024)
• Manavala Nagar Annex: Rs 2,200 per sq.ft (2024)
• Manavala Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mariamman Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mariamman Koil Cross Street?

The Sub Registrar Office that covers Mariamman Koil Cross 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 Chembakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in establishing a fair price for taxation purposes. Buyers and sellers must be aware of this value as it directly impacts the financial aspects of property transactions in the area.

Frequently asked questions

What is the current guideline value of Mariamman Koil Cross Street?

The current guideline value of Mariamman Koil Cross Street is Rs 1,400 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 250 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, marking an overall increase of 460% over the years.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 14,00,000, the total fees would amount to Rs 1,26,000.

Which office handles the registration for Mariamman Koil Cross Street?

The Selaiyur Sub Registrar Office handles the registration for Mariamman Koil Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification for Mariamman Koil Cross Street?

The land classification for Mariamman Koil Cross Street is Residential Class II Type - II.