Guideline Value for Mariamman Koil Street

Mariamman Koil Street guideline value

The current guideline value of Mariamman Koil Street is Rs 650 per sq.ft, effective from 1 July 2024. This street is located in Moonramkattalai village and falls under the Kunrathur SRO. The land classification for this area is Residential Class I Type - I.

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 275 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in the 2017 revision. The 2023 revision raised the value to Rs 600 per sq.ft, and the most recent 2024 revision has further increased it to Rs 650 per sq.ft, reflecting an 8% rise from the previous year. The register has no figures for the years 2002 and 2003.

In summary, from the 2007 revision to the 2024 revision, the overall increase in guideline value is 136%. The changes between the revisions are notable: from 2007 to 2012, there was a substantial increase of 118%, followed by a decrease of 33% from 2012 to 2017. The guideline value then increased by 49% from 2017 to 2023, and finally, an 8% increase from 2023 to 2024.

Guideline values in Moonramkattalai

In Moonramkattalai village, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 650 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 650 per sq.ft, which is equal to the 2024 figure for Mariamman Koil Street.

• Maruthi Nagar: Rs 650 per sq.ft (2024)
• Manickapuram: Rs 650 per sq.ft (2024)
• Moogambikai Nagar: Rs 1,350 per sq.ft (2024)
• Moondramkattalai Main Road: Rs 1,350 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• K.V. Road: Rs 650 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 650 per sq.ft, the total guideline value would be Rs 6,50,000. The stamp duty at 7% would amount to Rs 45,500, and the registration fee at 2% would be Rs 13,000, bringing the total fees to Rs 58,500. 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 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 Moonramkattalai

The guideline value plays a crucial role in the registration process of property transactions in Moonramkattalai. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers should be aware that the guideline value is often used as a benchmark for assessing property transactions.

When selling property, the seller must ensure that the sale price is not lower than the guideline value, as this could lead to complications during registration. It is essential for both buyers and sellers to understand the guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Mariamman Koil Street?

The current guideline value of Mariamman Koil Street is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 275 per sq.ft in 2007 to Rs 650 per sq.ft in 2024, reflecting an overall increase of 136% over the years.

Where can I find the registration office for Mariamman Koil Street?

The registration office for Mariamman Koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for property in Mariamman Koil Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 58,500.

What is the land classification for Mariamman Koil Street?

The land classification for Mariamman Koil Street is Residential Class I Type - I, indicating its suitability for residential development.