Guideline Value for Muthalamman Koil Street

Muthalamman Koil Street guideline value

The current guideline value of Muthalamman Koil Street is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Muthalamman Koil Street has changed

The guideline value for Muthalamman Koil Street has seen several revisions over the years. In 2003, the guideline value was Rs 303 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a significant rise of 98%. The value then jumped to Rs 2,000 per sq.ft in 2012, a 233% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it increased to Rs 2,100 per sq.ft in 2024, showing a 5% change.

It is important to note that there is no figure for Muthalamman Koil Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 593%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Muthalamman Koil Street's 2024 figure below this median.

• Murugesapuram 1 To 4 Streets: Rs 3,300 per sq.ft (2024)
• Murugesapuram: Rs 3,300 per sq.ft (2024)
• Murugavel Nagar: Rs 2,100 per sq.ft (2024)
• Murugan Koil Street: Rs 2,100 per sq.ft (2024)
• Munusamy Street: Rs 3,520 per sq.ft (2024)
• Municipal Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthalamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. 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 Street?

The Sub Registrar Office covering Muthalamman Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of the transaction based on the established guideline values.

Frequently asked questions

What is the current guideline value of Muthalamman Koil Street?

The current guideline value of Muthalamman Koil Street is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 303 per sq.ft in 2003 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 593% over this period.

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

For a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Which office do I need to visit for registration?

The Pallavaram Sub Registrar Office is responsible for property registrations in Muthalamman Koil Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value?

The guideline value is used to determine the minimum registration value for properties, influencing the calculation of stamp duty and registration fees during property transactions.