Guideline Value for Mariamman Koil Street

Mariamman Koil Street guideline value

The current guideline value for Mariamman Koil Street in Malayambakkam village, under the Kunrathur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Mariamman Koil Street has changed

Over the years, the guideline value for Mariamman Koil Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which then changed to Rs 402 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, reflecting a rise of 99%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for Mariamman Koil Street for the years 2002, 2003, and 2007. Overall, the guideline value has increased by 47% from 2012 to 2024.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, indicating that Mariamman Koil Street's 2024 figure is below this median.

• Mahalakshmi Nagar: Rs 1,210 per sq.ft (2024)
• M.G.R. Salai: Rs 880 per sq.ft (2024)
• Lakshmipathi Nagar: Rs 660 per sq.ft (2024)
• Ms Avenue: Rs 1,400 per sq.ft (2024)
• K.K. Nagar: Rs 1,210 per sq.ft (2024)
• Om Ganapathy Nagar: Rs 935 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total cost for these fees Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariamman Koil Street?

The Mariamman Koil Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Malayambakkam. It serves as a benchmark for assessing the value of the property and determining the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both the buyer and seller. It helps in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Mariamman Koil Street?

The current guideline value for Mariamman Koil Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 880 per sq.ft in 2024, with significant increases in 2017 and 2023.

What are the other streets in Malayambakkam with their guideline values?

Other streets in Malayambakkam include Mahalakshmi Nagar at Rs 1,210 per sq.ft, M.G.R. Salai at Rs 880 per sq.ft, and Ms Avenue at Rs 1,400 per sq.ft, among others.

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

Stamp duty for properties is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 880 per sq.ft incurs a total stamp duty of Rs 61,600.

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

The Sub Registrar Office covering Mariamman Koil Street is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details through the provided link.