Guideline Value for Muthu Mariamman Koil Street

Muthu Mariamman Koil Street guideline value

The current guideline value of Muthu Mariamman Koil Street is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class I 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. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then reduced to Rs 1,876 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,800 per sq.ft, and the current 2024 revision further raised it to Rs 3,000 per sq.ft, marking a 7% increase from the previous year.

Looking at the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Muthu Mariamman Koil Street's 2024 figure of Rs 3,000 per sq.ft is above this median.

• Nakeeran Street: Rs 2,500 per sq.ft (2024)
• Murugesa Mudaliar Street: Rs 1,900 per sq.ft (2024)
• Munusamy Reddy Colony: Rs 2,200 per sq.ft (2024)
• M.R. Nagar 6th Cross Street: Rs 2,500 per sq.ft (2024)
• M.R. Nagar 5th Cross Street: Rs 2,500 per sq.ft (2024)
• M.R. Nagar 4th Cross Street: Rs 2,500 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 3,000 per sq.ft, the total guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total fees together to Rs 2,70,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Mariamman Koil Street?

The Sub Registrar Office that covers Muthu Mariamman Koil Street is the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Erukancherry. It serves as a benchmark for determining the minimum price at which a property can be registered. This ensures that properties are sold at a value that reflects the current market conditions as determined by the government.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

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 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification of Muthu Mariamman Koil Street?

Muthu Mariamman Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find more information on stamp duty and registration fees?

You can find more information on stamp duty and registration fees through our stamp duty and registration fee calculator.

Which office handles registrations for Muthu Mariamman Koil Street?

The Madhavaram Sub Registrar Office handles registrations for Muthu Mariamman Koil Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.