Guideline Value for Muthalamman Koil 3rd Street

Muthalamman Koil 3rd Street guideline value

The current guideline value of Muthalamman Koil 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Muthalamman Koil 3rd Street has changed

The guideline value for Muthalamman Koil 3rd Street has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023 and further increased to Rs 1,700 per sq.ft in 2024, marking a 49% increase from 2017 to 2023 and a 13% increase from 2023 to 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from 2012 to 2024, the guideline value has increased by 13%. The recent 2024 revision reflects a significant change in the value, showing the fluctuations in the guideline values over the years.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, positioning Muthalamman Koil 3rd Street below this median value.

• Muthalamman Koil 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthalamman Koil 3rd Street?

The Sub Registrar Office that covers Muthalamman Koil 3rd 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 critical factor in property transactions in Kottivakkam, as it determines the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees, which are mandatory during the property transfer process.

When buying or selling property, it is important to be aware of the guideline value, as it ensures compliance with the legal requirements set by the Registration Department. Buyers should be prepared to pay the stamp duty based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Muthalamman Koil 3rd Street?

The current guideline value of Muthalamman Koil 3rd 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 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 for Muthalamman Koil 3rd Street?

The land classification for Muthalamman Koil 3rd Street is Residential Class V Type - III.

Where can I find the Sub Registrar Office for Muthalamman Koil 3rd Street?

The Sub Registrar Office covering Muthalamman Koil 3rd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.