Guideline Value for Mariyamman Koil Street

Mariyamman Koil Street guideline value

The current guideline value of Mariyamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar SRO, and is classified as Residential Class III Type - I.

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 2002, the value was Rs 159 per sq.ft. This increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. Subsequently, the value rose to Rs 750 per sq.ft in 2007, reflecting a substantial increase of 150%. The next revision in 2012 saw the value at Rs 2,000 per sq.ft, which was a 167% increase from the previous figure. However, by 2017, the value dropped to Rs 1,340 per sq.ft, indicating a decrease of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,284%. The register has no figure for this street in the years not mentioned above.

Guideline values in Tharamani

In Tharamani village, there are 78 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Mariyamman Koil Street's 2024 value below this median.

• Ma.Po.Si. Street: Rs 2,800 per sq.ft (2024)
• Mahathma Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• MG Nagar Akbar Street: Rs 2,800 per sq.ft (2024)
• MG Nagar Ambethkar Street: Rs 2,800 per sq.ft (2024)
• MG Nagar Anjukammal Street: Rs 2,200 per sq.ft (2024)
• MG Nagar Anthoniyar Koil 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mariyamman Koil Street?

The Sub Registrar Office that covers Mariyamman Koil Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when completing a property transaction.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Mariyamman Koil Street?

The current guideline value of Mariyamman Koil 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 significantly from Rs 159 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1,284% over this period.

What is the land classification for Mariyamman Koil Street?

Mariyamman Koil Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Mariyamman Koil Street?

The Adayar Sub Registrar Office, which covers Mariyamman Koil Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Mariyamman Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,54,000.