Guideline Value for Mariyamman Koil Street

Mariyamman Koil Street guideline value

The current guideline value of Mariyamman Koil Street is Rs 1,000 per sq.ft. This street is located in Panchetty village and falls under the Redhills SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Mariyamman Koil Street has changed

Over the years, the guideline value of Mariyamman Koil Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 700 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, representing a 43% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, marking a 33% drop. The value then increased significantly to Rs 1,000 per sq.ft in 2023, and it remains the same in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 is an increase of 43%.

Guideline values in Panchetty

Panchetty village has a total of 46 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,600 per sq.ft. The median value among these streets is Rs 1,000 per sq.ft, which is equal to the current guideline value of Mariyamman Koil Street.

• Mettu Street: Rs 1,000 per sq.ft (2024)
• Kkn Garden: Rs 670 per sq.ft (2024)
• Nehru Street: Rs 1,000 per sq.ft (2024)
• Neudvarambakkam Salai: Rs 1,000 per sq.ft (2024)
• Kalaignar Nagar 2nd Street: Rs 1,000 per sq.ft (2024)
• Kalaignar Nagar 1st Street: Rs 1,000 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 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000. Together, the total cost for these fees would be Rs 90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mariyamman Koil Street?

The Sub Registrar Office that covers Mariyamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Panchetty. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price is compared to the guideline value. The higher of the two is considered for calculating the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Mariyamman Koil Street?

The current guideline value of Mariyamman Koil Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 700 per sq.ft in 2007, rising to Rs 1,000 in 2012, dropping to Rs 670 in 2017, and returning to Rs 1,000 in 2023 and 2024.

What is the land classification for Mariyamman Koil Street?

Mariyamman Koil Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

The registration office for Mariyamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Panchetty?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.