Guideline Value for Mariyamman Koil Street

Mariyamman Koil Street guideline value

The current guideline value of Mariyamman Koil 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, classified as Residential Class I Type - II.

How the guideline value of Mariyamman Koil Street has changed

The guideline value for Mariyamman Koil Street has seen significant changes over the years. In 2003, the value was Rs 419 per sq.ft, which increased to Rs 500 per sq.ft in 2007. By 2012, it rose to Rs 3,000 per sq.ft, but then fell to Rs 2,010 per sq.ft in 2017. The value increased again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The period from 2007 to 2012 saw a remarkable increase of 500%, while the value increased by 19% from 2003 to 2007. 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 with a 2024 guideline value range from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, making Mariyamman Koil Street's 2024 figure of Rs 3,300 per sq.ft above that median.

• Mariyamman Koil I1st Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil 3rd Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil 2nd 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for stamp duty and registration to Rs 2,97,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mariyamman Koil Street?

The Sub Registrar Office that covers Mariyamman Koil Street is located at Pallavaram Sub Registrar Office, 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Cantonment Pallavaram

The guideline value plays a crucial role in the registration process of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for completing the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Mariyamman Koil Street?

The current guideline value of Mariyamman Koil 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 from Rs 419 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 688% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles the registration for Mariyamman Koil Street?

The Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, is responsible for handling registrations for Mariyamman Koil Street.

What is the land classification of Mariyamman Koil Street?

Mariyamman Koil Street is classified as Residential Class I Type - II, indicating its suitability for residential development.