Guideline Value for Mariyamman Koil Street

Mariyamman Koil Street guideline value

The current guideline value of Mariyamman Koil Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Mariyamman Koil Street has changed

The guideline value for Mariyamman Koil Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 341 per sq.ft. This increased to Rs 378 per sq.ft in 2003, marking an 11% rise. In 2007, the value jumped significantly to Rs 750 per sq.ft, reflecting a 98% increase. The 2012 revision saw the value rise to Rs 3,600 per sq.ft, a substantial 380% increase from the previous figure. However, this was followed by a decrease to Rs 2,412 per sq.ft in 2017, which was a 33% drop. The value then rose again to Rs 3,600 per sq.ft in 2023, before reaching the current figure of Rs 3,960 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, the guideline value has increased by 1,061% from the 2002 figure to the current value in 2024. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value is Rs 3,960 per sq.ft, which is equal to the current guideline value of Mariyamman Koil Street.

• Mangala Nagar Annex: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 9th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street - Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 7th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 6th Cross Street: Rs 3,960 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 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200. Together, the total cost for these fees would be Rs 3,56,400. Please 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 further calculations.

Which Sub Registrar Office covers Mariyamman Koil Street?

The Sub Registrar Office that covers Mariyamman Koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the registration fees and stamp duties are calculated based on a fair valuation.

When buying or selling property, it is essential to be aware of the current guideline value as it directly impacts the financial obligations associated with the transaction. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies 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 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 341 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 1,061% over this period.

What is the land classification for Mariyamman Koil Street?

Mariyamman Koil Street is classified as Residential Special Type - I.

Where can I find the registration office for properties in Mariyamman Koil Street?

The registration office for Mariyamman Koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is 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 total stamp duty of Rs 2,77,200.