Guideline Value for Mariammankoil Street

Mariammankoil Street guideline value

The current guideline value of Mariammankoil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Class I Type - II.

How the guideline value of Mariammankoil Street has changed

The guideline value for Mariammankoil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value range from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Mariammankoil Street's 2024 figure below this median.

• Market Area: Rs 6,600 per sq.ft (2024)
• Market area Shanmugam Street: Rs 6,600 per sq.ft (2024)
• Manthoppu Street (Brindavan Avenue): Rs 4,400 per sq.ft (2024)
• Market Road: Rs 6,600 per sq.ft (2024)
• Market Road Balance: Rs 6,600 per sq.ft (2024)
• Mathava Reddy Street(Ramakrishnan Street): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Mariammankoil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mariammankoil Street?

The Sub Registrar Office that covers Mariammankoil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the fees reflect the true value of the transaction, thereby maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Mariammankoil Street?

The current guideline value of Mariammankoil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

Other streets in Tambaram have varying guideline values. For instance, Market Area and Market area Shanmugam Street both have a guideline value of Rs 6,600 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Mariammankoil Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Mariammankoil Street?

The Tambaram Joint 1 Sub Registrar Office covers Mariammankoil Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.