Guideline Value for Muthu Mariamman Street

Muthu Mariamman Street guideline value

The current guideline value of Muthu Mariamman Street is Rs 830 per sq.ft, effective from 1 July 2024. This street is located in Agaramthen village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Muthu Mariamman Street has changed

The guideline value for Muthu Mariamman Street has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which was then reduced to Rs 502 per sq.ft in the 2017 revision. Following this, the value increased to Rs 750 per sq.ft in the 2023 revision, and further rose to Rs 830 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a net increase of 11%. The changes between the revisions include a significant rise of 49% from 2017 to 2023, while the 2012 to 2017 period experienced a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median value for these streets is Rs 830 per sq.ft, which is equal to the current guideline value of Muthu Mariamman Street.

• Nalla Thanneer Kulam (North): Rs 830 per sq.ft (2024)
• Nalla Thanneer Kulam (South): Rs 830 per sq.ft (2024)
• Monisha Avenue: Rs 1,760 per sq.ft (2024)
• M.M. Nagar Phase-2: Rs 1,430 per sq.ft (2024)
• M.M.Nagar: Rs 830 per sq.ft (2024)
• Nehru Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Mariamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, while the registration fee at 2% would be Rs 16,600, bringing the total charges to Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthu Mariamman Street?

The Sub Registrar Office that covers Muthu Mariamman Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial implications of the sale. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Muthu Mariamman Street?

The current guideline value of Muthu Mariamman Street is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for Muthu Mariamman Street?

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

Where can I find the Sub Registrar Office for Muthu Mariamman Street?

The Sub Registrar Office for Muthu Mariamman Street is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Agaramthen?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 8,30,000 would incur a stamp duty of Rs 58,100 at a rate of 7%.