Guideline Value for Marthamman Koil Street

Marthamman Koil Street guideline value

The current guideline value for Marthamman Koil Street is Rs 210 per sq.ft, effective from 1 July 2024. This street is located in Nemili village, under the Sriperumpudur SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Marthamman Koil Street has changed

Over the years, the guideline value for Marthamman Koil Street has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017. The 2023 revision marked an increase to Rs 200 per sq.ft, and the most recent revision in 2024 set the value at Rs 210 per sq.ft, reflecting a 5% increase from the previous year. Notably, the revisions for the years 2002, 2003, and 2007 have no recorded figures for this street.

From 2012 to 2017, there was a significant decrease of 33%, but the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 5%.

Guideline values in Nemili

Nemili village has a total of 66 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which means Marthamman Koil Street's 2024 figure of Rs 210 per sq.ft is below the median.

• Marshal Share: Rs 300 per sq.ft (2024)
• Manasa Devi Nagar: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 210 per sq.ft (2024)
• Mookambigai Nagar: Rs 250 per sq.ft (2024)
• Madha Koil Street: Rs 210 per sq.ft (2024)
• Lucky Land: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Marthamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 210 per sq.ft, the total guideline value would be Rs 2,10,000. The stamp duty at 7% would amount to Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total fees to Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marthamman Koil Street?

The Sub Registrar Office that covers Marthamman Koil Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemili. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the property is not undervalued.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Marthamman Koil Street?

The current guideline value of Marthamman Koil Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and finally to Rs 210 per sq.ft in 2024.

What is the land classification for Marthamman Koil Street?

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

Which office handles registrations for Marthamman Koil Street?

The Sriperumpudur Sub Registrar Office handles registrations for Marthamman Koil Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Nemili?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,10,000, the stamp duty would be Rs 14,700 at a rate of 7%.