Guideline Value for Mariamman Koil Street (11th Ward)

Mariamman Koil Street (11th Ward) guideline value

The current guideline value of Mariamman Koil Street (11th Ward) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Mariamman Koil Street (11th Ward) has changed

The guideline value for Mariamman Koil Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012. However, this value dropped to Rs 1,139 per sq.ft in 2017. The 2023 revision set the value at Rs 1,700 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,800 per sq.ft, marking a 6% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 350%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

There are 596 streets in Oragadam under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that the guideline value of Mariamman Koil Street is below that median.

• Maruthi Nagar: Rs 1,300 per sq.ft (2024)
• Maruthi Street: Rs 1,400 per sq.ft (2024)
• Mani Street(vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Manimekalai Street: Rs 1,600 per sq.ft (2024)
• Masilamaneeswarar Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Masilamani Street(Vinayagapuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mariamman Koil Street (11th Ward)

For a 1,000 sq.ft plot at the current rate of Rs 1,800 per sq.ft, the guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, while the registration fee at 2% would be Rs 36,000, totaling Rs 1,62,000. 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 Street (11th Ward)?

The Sub Registrar Office that covers Mariamman Koil Street is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Oragadam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two figures is used to determine the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Mariamman Koil Street (11th Ward)?

The current guideline value of Mariamman Koil Street (11th Ward) is Rs 1,800 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 400 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024. The value saw increases and decreases in various revisions, with the most recent revision reflecting a 6% increase from the previous year.

What is the land classification for Mariamman Koil Street?

Mariamman Koil Street is classified as Residential Class I Type - II. This classification is important for determining the guideline value and other regulatory aspects.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Mariamman Koil Street is 7%, while the registration fee is 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 Mariamman Koil Street?

The Sub Registrar Office for Mariamman Koil Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.