Guideline Value for Muthalamman Koil 2nd Street

Muthalamman Koil 2nd Street guideline value

The current guideline value of Muthalamman Koil 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class V Type - III.

How the guideline value of Muthalamman Koil 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure was then revised to Rs 1,005 per sq.ft in 2017, which represented a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,700 per sq.ft, marking a 13% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 13%. The significant changes observed include a 49% increase from 2017 to 2023, followed by a 13% increase from 2023 to 2024.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Muthalamman Koil 2nd Street is below this median.

• Muthalamman Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 5th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 6th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 7th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 8th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthalamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, resulting in a total of Rs 1,53,000. 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 Muthalamman Koil 2nd Street?

The Sub Registrar Office that covers Muthalamman Koil 2nd 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 Kottivakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Muthalamman Koil 2nd Street?

The current guideline value of Muthalamman Koil 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Muthalamman Koil 2nd Street?

Muthalamman Koil 2nd Street is classified as Residential Class V Type - III.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 17,00,000, the total fees would amount to Rs 1,53,000.

Where can I find the Sub Registrar Office for Muthalamman Koil 2nd Street?

The Adayar Sub Registrar Office, which covers Muthalamman Koil 2nd Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.