Guideline Value for Muthu Mariamman Koil Street

Muthu Mariamman Koil Street guideline value

The current guideline value of Muthu Mariamman Koil Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Muthu Mariamman Koil Street has changed

Over the years, the guideline value of Muthu Mariamman Koil Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 1,100 per sq.ft. In 2017, this value decreased to Rs 737 per sq.ft, marking a decline of 33%. However, the subsequent revision in 2023 saw a significant increase to Rs 1,100 per sq.ft, followed by another increase to Rs 1,210 per sq.ft in 2024, reflecting a 10% rise from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. The overall change from the 2012 figure to the 2024 figure shows a total increase of 10%.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing the 2024 figure for Muthu Mariamman Koil Street below this median.

• Muthamizhal Nagar: Rs 1,760 per sq.ft (2024)
• Nadarajan Street: Rs 1,210 per sq.ft (2024)
• Mudichur West: Rs 2,200 per sq.ft (2024)
• Mudichur Road: Rs 3,630 per sq.ft (2024)
• Navab Abibulla Nagar: Rs 3,630 per sq.ft (2024)
• Nehru Colony: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Mariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, making the total cost for these fees Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Mariamman Koil Street?

The Sub Registrar Office that covers Muthu Mariamman Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Muthu Mariamman Koil Street?

The current guideline value of Muthu Mariamman Koil Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Muthu Mariamman Koil Street?

Muthu Mariamman Koil Street is classified as Residential Class II Type - I.

Where can I find the registration office for Muthu Mariamman Koil Street?

The registration office for Muthu Mariamman Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 12,10,000, the stamp duty would be 7% of that amount.