Guideline Value for Muthu Mari Amman Koil Street

Muthu Mari Amman Koil Street guideline value

The current guideline value of Muthu Mari Amman Koil Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Chinnapanicheri village under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of Muthu Mari Amman Koil Street has changed

The guideline value for Muthu Mari Amman Koil Street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, this figure dropped to Rs 335 per sq.ft in 2017. The value then rose to Rs 500 per sq.ft in 2023, before reaching the current rate of Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2007 to 2024 reflects a substantial increase of 175%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chinnapanicheri

In Chinnapanicheri, there are 14 streets under the Kunrathur SRO that have a 2024 guideline value, ranging from Rs 550 to Rs 1,650 per sq.ft. The median value for these streets is Rs 675 per sq.ft, placing Muthu Mari Amman Koil Street's 2024 figure below that median.

• Moogambigai Nagar: Rs 800 per sq.ft (2024)
• Nova Nagar: Rs 550 per sq.ft (2024)
• Mari Amman Koil Street: Rs 550 per sq.ft (2024)
• Panchatcharam Nagar: Rs 800 per sq.ft (2024)
• Panchatcharam Nagar Annexe: Rs 800 per sq.ft (2024)
• Leelavathy Nagar Annexe: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Mari Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Mari Amman Koil Street?

The Sub Registrar Office that covers Muthu Mari Amman Koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chinnapanicheri. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the transaction is compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Muthu Mari Amman Koil Street?

The current guideline value of Muthu Mari Amman Koil Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, showing an overall increase of 175% over the years.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office is responsible for this street?

The Kunrathur Sub Registrar Office is responsible for Muthu Mari Amman Koil Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the sale price is compliant with the regulations set by the Registration Department.