Guideline Value for Muthalamman Koil Street

Muthalamman Koil Street guideline value

The current guideline value of Muthalamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Muthalamman Koil Street has changed

The guideline value for Muthalamman Koil Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 320 per sq.ft. This increased significantly to Rs 381 per sq.ft in the 2003 revision, reflecting a change of +19%. The 2007 revision saw a substantial rise to Rs 1,000 per sq.ft, marking an increase of +162%. In 2012, the value was Rs 2,000 per sq.ft, which was a +100% change from the previous revision. The 2017 revision recorded a value of Rs 1,340 per sq.ft, indicating a decrease of -33% from 2012. The guideline value then increased to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,200 per sq.ft in 2024, representing a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +588%. The register has no figures for revisions in years not mentioned above.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. Muthalamman Koil Street's current guideline value is below this median.

• Muthalamman Koil 8th Street: Rs 1,700 per sq.ft (2024)
• 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 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 that covers Muthalamman Koil 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 crucial factor in property transactions in Kottivakkam. It serves as the minimum value for determining stamp duty and registration fees when buying or selling property. This ensures that the transaction is registered at a value that reflects the official rates set by the government.

When a property is sold, the guideline value helps in calculating the applicable taxes and fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthalamman Koil Street?

The current guideline value of Muthalamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 320 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +588% over this period.

What is the land classification for Muthalamman Koil Street?

Muthalamman Koil Street is classified as Residential Class IV Type - II according to the guidelines.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Muthalamman Koil Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, covers Muthalamman Koil Street.