Guideline Value for Mariamman Koil Street

Mariamman Koil Street guideline value

The current guideline value of Mariamman Koil Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Mariamman Koil Street has changed

Over the years, the guideline value of Mariamman Koil Street has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, this figure dropped to Rs 603 per sq.ft in the 2017 revision, marking a decrease of 33%. The subsequent 2023 revision raised the value to Rs 900 per sq.ft, and the latest revision in 2024 has increased it further to Rs 950 per sq.ft, reflecting a 6% change from the previous year.

In summary, the guideline value has increased significantly from Rs 400 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, representing an overall increase of 138%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are a total of 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which indicates that Mariamman Koil Street's 2024 figure of Rs 950 per sq.ft is below this median.

• Mariamman Koil 5th Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 5th Cross Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 4th Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 4th Cross Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 3rd Street: Rs 950 per sq.ft (2024)
• Mariamman Koil 3rd Cross Street: Rs 950 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 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty, charged at 7%, would be Rs 66,500, while the registration fee at 2% would be Rs 19,000. Together, these fees total Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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, 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 Selaiyur

The guideline value plays a crucial role in the registration process of property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When a buyer or seller approaches the Sub Registrar Office for registration, the guideline value is referenced to ensure that the correct fees are applied. This helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mariamman Koil Street?

The current guideline value of Mariamman Koil Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, with various revisions in between, including a drop in 2017 to Rs 603 per sq.ft.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, which is higher than the current value of Mariamman Koil Street.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mariamman Koil Street?

The Sub Registrar Office for Mariamman Koil Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.