Guideline Value for Mariamman Koil Street

Mariamman Koil Street guideline value

The current guideline value of Mariamman Koil Street in Mogalivakkam village is Rs 2,970 per sq.ft, effective from the 2024 revision. This street falls under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Mariamman Koil Street has changed

Over the years, the guideline value for Mariamman Koil Street has seen significant changes. The earliest recorded figure in the register is from 2007, at Rs 750 per sq.ft. This value increased dramatically to Rs 2,700 per sq.ft in 2012, marking a 260% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, a drop of 33%. The value then surged to Rs 2,700 per sq.ft in 2023, followed by another increase to Rs 2,970 per sq.ft in 2024, reflecting a 10% rise.

There are no recorded figures for Mariamman Koil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 296%.

Guideline values in Mogalivakkam

Mogalivakkam village has a total of 98 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is equal to the guideline value of Mariamman Koil Street.

• Maragatham Chandrasekar Nagar: Rs 2,970 per sq.ft (2024)
• Maris Avenue: Rs 6,600 per sq.ft (2024)
• Manapakkam Road: Rs 3,520 per sq.ft (2024)
• Mettukuppam: Rs 2,970 per sq.ft (2024)
• Mettukuppam Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,520 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 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400. Together, these fees would total Rs 2,67,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, 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 further details.

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

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

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

Frequently asked questions

What is the current guideline value of Mariamman Koil Street?

The current guideline value of Mariamman Koil Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, representing an overall increase of 296%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which Sub Registrar Office covers Mariamman Koil Street?

The Kunrathur Sub Registrar Office covers Mariamman Koil Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Mariamman Koil Street?

Mariamman Koil Street is classified as Residential Special Type - I, indicating its suitability for residential development.