Guideline Value for Muthalamman Koil Extn

Muthalamman Koil Extn guideline value

The current guideline value of Muthalamman Koil Extn is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Muthalamman Koil Extn has changed

Over the years, the guideline value of Muthalamman Koil Extn has seen several revisions. The earliest recorded figure is from 2007, when it was Rs 1,460 per sq.ft. This value increased significantly to Rs 5,500 per sq.ft in 2012, marking an increase of 277%. However, the value dropped to Rs 3,685 per sq.ft in 2017, which was a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 6,000 per sq.ft, reflecting an increase of 63% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 311%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Muthalamman Koil Extn is above this median, indicating a higher valuation compared to many other streets in the area.

• Muthalamman Koil Street(Moovender Colony) Block 62, 63: Rs 6,000 per sq.ft (2024)
• Murugesan Street Block 78: Rs 4,900 per sq.ft (2024)
• Murugesa Naicker Colony Block 79: Rs 4,100 per sq.ft (2024)
• Murugan Street(Kodambakkam Salai): Rs 5,500 per sq.ft (2024)
• Murugan Store RoadS.No. 349/1 Part: Rs 2,200 per sq.ft (2024)
• Murthy Street Extension: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Muthalamman Koil Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total cost for these fees Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthalamman Koil Extn?

The Muthalamman Koil Extn area is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kodambakkam. It serves as a reference for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value is used to ensure that the transaction is registered at a fair value.

When a property is sold, the buyer is required to pay stamp duty based on the higher of the guideline value or the agreed sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Muthalamman Koil Extn?

The current guideline value of Muthalamman Koil Extn is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 311% over the years.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Muthalamman Koil Street (Moovender Colony) at Rs 6,000 per sq.ft, Murugesan Street Block 78 at Rs 4,900 per sq.ft, and Murthy Street Extension at Rs 6,600 per sq.ft, among others.

What is the stamp duty rate for properties in Muthalamman Koil Extn?

The stamp duty rate for properties in Muthalamman Koil Extn is 7% of the guideline value or the sale price, whichever is higher.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.