Guideline Value for Mariyamman Koil Cross Street

Mariyamman Koil Cross Street guideline value

The current guideline value of Mariyamman Koil Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Mariyamman Koil Cross Street has changed

The guideline value for Mariyamman Koil Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,450 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 141%. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The following revision in 2023 raised it to Rs 3,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 166%. It is important to note that the register does not have figures for Mariyamman Koil Cross Street for the years 2002 and 2003.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Mariyamman Koil Cross Street's 2024 figure below the median.

• Mariyamman Koil Street: Rs 3,850 per sq.ft (2024)
• Meenatchi Nagar: Rs 3,300 per sq.ft (2024)
• M.G. Samy Nagar: Rs 3,850 per sq.ft (2024)
• L & T. Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• L & T. Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• L & T. Colony 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mariyamman Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that 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 information.

Which Sub Registrar Office covers Mariyamman Koil Cross Street?

The Sub Registrar Office that covers Mariyamman Koil Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the sale process.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mariyamman Koil Cross Street?

The current guideline value of Mariyamman Koil Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,450 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 166% over the years.

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

For a 1,000 sq.ft property, the total guideline value is Rs 38,50,000, resulting in a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Mariyamman Koil Cross Street?

The Virugambakkam Sub Registrar Office covers Mariyamman Koil Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Mariyamman Koil Cross Street?

The land classification for Mariyamman Koil Cross Street is Residential Class III Type - II.