Guideline Value for Muthu Mariammn Koil 1st Street

Muthu Mariammn Koil 1st Street guideline value

The current guideline value for Muthu Mariammn Koil 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Muthu Mariammn Koil 1st Street has changed

The guideline value for Muthu Mariammn Koil 1st Street has experienced several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 147 per sq.ft. This increased significantly to Rs 160 per sq.ft in 2003, marking a rise of 9%. Following that, the value surged to Rs 700 per sq.ft in 2007, which was a remarkable increase of 338%. In 2012, the value was recorded at Rs 1,500 per sq.ft, reflecting a 114% increase from the previous revision.

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft, which was a decrease of 33% from the 2012 figure. The next revision in 2023 saw the value rise to Rs 1,500 per sq.ft, an increase of 49%. Finally, the current value from the 2024 revision is Rs 1,700 per sq.ft, representing a 13% increase from 2023. There are no figures available for the revisions of years not listed in the register for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Muthu Mariammn Koil 1st Street's 2024 figure below that median.

• Muthu Mariammn Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Muthu Mariammn Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Muthu Mariammn Koil Street: Rs 1,700 per sq.ft (2024)
• Nadu Theru (Kuppam): Rs 1,700 per sq.ft (2024)
• Muthalamman Koil Street: Rs 1,700 per sq.ft (2024)
• Murali Avenue: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Mariammn Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 Mariammn Koil 1st Street?

The Sub Registrar Office that covers Muthu Mariammn Koil 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Muthu Mariammn Koil 1st Street?

The current guideline value of Muthu Mariammn Koil 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 147 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1056% over the years.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, which is higher than the current value of Muthu Mariammn Koil 1st Street.

What are the stamp duty and registration fees for a property in Muthu Mariammn Koil 1st Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,53,000.

Where is the Sub Registrar Office for Muthu Mariammn Koil 1st Street located?

The Sub Registrar Office for Muthu Mariammn Koil 1st Street is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.