Guideline Value for Mariamman Koil Street

Mariamman Koil Street guideline value

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

How the guideline value of Mariamman Koil Street has changed

The guideline value for Mariamman Koil Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 450 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012. However, it experienced a decrease to Rs 871 per sq.ft in 2017. The 2023 revision set the value at Rs 1,300 per sq.ft, and the most recent 2024 revision raised it to Rs 1,400 per sq.ft, marking an 8% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 211%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Mariamman Koil Street's 2024 figure below that median.

• Mariamman Koil Cross 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 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 higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mariamman Koil Street?

The Sub Registrar Office that covers Mariamman Koil 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, Chengalpattu registration zone.

To find more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Mariamman Koil Street?

The current guideline value of Mariamman Koil 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 from Rs 450 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 211% over the years.

What is the land classification for Mariamman Koil Street?

Mariamman Koil Street is classified as Residential Class II Type - II, indicating its zoning for residential purposes.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a property valued at Rs 14,00,000 would incur a stamp duty of Rs 98,000 at 7%.