Guideline Value for Muthalamman Koil 5th Street

Muthalamman Koil 5th Street guideline value

The current guideline value of Muthalamman Koil 5th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class V Type - III.

How the guideline value of Muthalamman Koil 5th Street has changed

The guideline value for Muthalamman Koil 5th Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,000 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, followed by a decrease to Rs 1,005 per sq.ft in 2017. The value then rose significantly to Rs 1,500 per sq.ft in 2023 and currently stands at Rs 1,700 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002 and 2003.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 13%. Overall, from 2007 to 2024, the guideline value has increased by 70%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values in 2024 ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Muthalamman Koil 5th Street's current value below this median.

• Muthalamman Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 6th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 7th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 2nd 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 5th 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, while the registration fee at 2% would be Rs 34,000. Together, the total cost would be Rs 1,53,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Muthalamman Koil 5th Street?

The Muthalamman Koil 5th Street falls under 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 of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties agree on a fair price for the transaction. It is essential for buyers to be aware of the guideline value to understand the financial implications of their property purchase.

Frequently asked questions

What is the current guideline value of Muthalamman Koil 5th Street?

The current guideline value of Muthalamman Koil 5th 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 1,000 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 70% over the years.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations for Muthalamman Koil 5th Street?

The Adayar Sub Registrar Office handles property registrations for Muthalamman Koil 5th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value for streets in Kottivakkam?

The median guideline value for streets in Kottivakkam is Rs 3,900 per sq.ft, while Muthalamman Koil 5th Street's current value is below this median.