Guideline Value for Muthu Mariamman Koil Street

Muthu Mariamman Koil Street guideline value

The current guideline value of Muthu Mariamman Koil Street is Rs 2,700 per sq.ft. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Muthu Mariamman Koil Street has changed

The guideline value for Muthu Mariamman Koil Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 170%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Muthu Mariamman Koil Street's 2024 figure is below this median.

• Nakkeeran Street: Rs 2,700 per sq.ft (2024)
• Murugesan Street / Murugesan Colony: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 6th Street: Rs 3,300 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muthu Mariamman Koil Street?

The Sub Registrar Office that covers Muthu Mariamman Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership.

It is important for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This helps in avoiding any disputes regarding property valuation and associated fees.

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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Muthu Mariamman Koil Street?

Muthu Mariamman Koil Street is classified as Residential Class II Type - I, which influences its guideline value and usage.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations for Muthu Mariamman Koil Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.