Guideline Value for Mariyamman Koil 2nd Street

Mariyamman Koil 2nd Street guideline value

The current guideline value of Mariyamman Koil 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Mariyamman Koil 2nd Street has changed

The guideline value for Mariyamman Koil 2nd Street has seen several revisions over the years. In 2003, the value was Rs 419 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, but it dropped to Rs 2,010 per sq.ft in 2017. The value then increased significantly to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024. The register has no figure for this street for the year 2002.

Between the revisions, there have been notable changes. From 2003 to 2007, the guideline value increased by 19%. However, from 2007 to 2012, there was a substantial rise of 500%. The value then decreased by 33% from 2012 to 2017. In a remarkable turnaround, the value surged by 49% from 2017 to 2023, and then increased by 10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 688%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has 81 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Mariyamman Koil 2nd Street's guideline value of Rs 3,300 per sq.ft is above this median.

• Mariyamman Koil 3rd Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil I1st Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Market Lane: Rs 3,300 per sq.ft (2024)
• Mattry Square: Rs 2,200 per sq.ft (2024)
• Milagupillai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mariyamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Mariyamman Koil 2nd Street?

The Sub Registrar Office covering Mariyamman Koil 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

When buying or selling property in Cantonment Pallavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum price at which a property can be registered, and it is used by the authorities to calculate the applicable fees during the registration process.

It is essential to be aware that the guideline value may differ from the actual sale price. In such cases, the stamp duty and registration fees will be charged based on whichever amount is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mariyamman Koil 2nd Street?

The current guideline value of Mariyamman Koil 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 419 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 688% over this period.

What is the land classification for Mariyamman Koil 2nd Street?

The land classification for Mariyamman Koil 2nd Street is Residential Class I Type - II.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, with applicable fees calculated accordingly.