Guideline Value for Mariamman Koil Street 1,2 and 3rd Street

Mariamman Koil Street 1,2 and 3rd Street guideline value

The current guideline value for Mariamman Koil Street 1, 2 and 3rd Street in Mugappair village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class III Type - I.

How the guideline value of Mariamman Koil Street 1,2 and 3rd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This value decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. The value then saw a significant increase to Rs 3,000 per sq.ft in 2023, followed by a further rise to Rs 3,300 per sq.ft in 2024, which is an increase of 10% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, reflecting a notable change over that period. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Mariamman Koil Street 1, 2 and 3rd Street below this median.

• Maria Street: Rs 3,300 per sq.ft (2024)
• Maraimalai Adigal Salai: Rs 5,500 per sq.ft (2024)
• Manjakkuppam: Rs 3,800 per sq.ft (2024)
• Masuthi Street: Rs 5,500 per sq.ft (2024)
• Melppatti Ponnambalam Mudhali Street: Rs 3,800 per sq.ft (2024)
• Mettucherry: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Mariamman Koil Street 1,2 and 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Street 1,2 and 3rd Street?

The Mariamman Koil Street 1, 2 and 3rd Street is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Mariamman Koil Street 1,2 and 3rd Street?

The current guideline value for Mariamman Koil Street 1, 2 and 3rd Street is Rs 3,300 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 being an increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It decreased from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017 before increasing again.

What is the land classification for Mariamman Koil Street 1,2 and 3rd Street?

The land classification for Mariamman Koil Street 1, 2 and 3rd Street is Residential Class III Type - I.

Where can I find information about the registration office?

The registration office covering Mariamman Koil Street 1, 2 and 3rd Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Mugappair?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of that amount.