Guideline Value for Muthalamman Koil 8th Street

Muthalamman Koil 8th Street guideline value

The current guideline value of Muthalamman Koil 8th 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 falls under the Residential Class V Type - III land classification.

How the guideline value of Muthalamman Koil 8th Street has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. It increased to Rs 1,500 per sq.ft in the 2012 revision, marking a 50% increase. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, reflecting a 33% drop. From 2017 to 2023, it rose significantly to Rs 1,500 per sq.ft, a 49% increase, and then further increased to Rs 1,700 per sq.ft in the 2024 revision, which is a 13% rise.

The revisions for the years 2002 and 2003 have no figures available for Muthalamman Koil 8th Street. Overall, from 2007 to 2024, the guideline value has increased by 70%.

Guideline values in Kottivakkam

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

• Muthalamman Koil 7th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 6th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 5th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil Street: Rs 2,200 per sq.ft (2024)
• Muthalamman Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthalamman Koil 8th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the 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, totaling Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthalamman Koil 8th Street?

The Adayar Sub Registrar Office covers Muthalamman Koil 8th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. To find your SRO, visit find your SRO.

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

The guideline value is an important factor in property transactions in Kottivakkam, as it is used to calculate the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of the transaction.

When a property is sold, the guideline value serves as a benchmark for determining the minimum sale price for registration purposes. This ensures that the property is not undervalued, which could lead to discrepancies in tax calculations and legal issues.

Frequently asked questions

What is the current guideline value of Muthalamman Koil 8th Street?

The current guideline value of Muthalamman Koil 8th 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 seen several changes, from Rs 1,000 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 70% over the years.

What is the land classification of Muthalamman Koil 8th Street?

Muthalamman Koil 8th Street falls under the Residential Class V Type - III land classification, indicating its suitability for residential purposes.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles all registrations for properties in the area.

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. These fees are based on the guideline value or the sale price, whichever is higher.