Guideline Value for Muthumari Amman Koil Street (Janaki Nagar Extn)

Muthumari Amman Koil Street (Janaki Nagar Extn) guideline value

The current guideline value of Muthumari Amman Koil Street (Janaki Nagar Extn) is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Muthumari Amman Koil Street (Janaki Nagar Extn) has changed

The guideline value for Muthumari Amman Koil Street (Janaki Nagar Extn) has undergone several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 4,950 per sq.ft, marking a 64% rise from the 2017 figure.

From the 2012 to 2017 revision, there was a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, indicating that Muthumari Amman Koil Street (Janaki Nagar Extn) is above this median.

• Muthumariamman Street: Rs 4,950 per sq.ft (2024)
• Nagarathinammal Street: Rs 4,950 per sq.ft (2024)
• Nageeran Street: Rs 4,950 per sq.ft (2024)
• Nagireddy Street: Rs 4,400 per sq.ft (2024)
• Nagireddy Street Cross Street: Rs 4,400 per sq.ft (2024)
• Muralikrishna Nagar Main Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumari Amman Koil Street (Janaki Nagar Extn)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, while the registration fee at 2% would be Rs 99,000, bringing the total fees together to Rs 4,45,500. 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 detailed calculations.

Which Sub Registrar Office covers Muthumari Amman Koil Street (Janaki Nagar Extn)?

The Sub Registrar Office that covers Muthumari Amman Koil Street (Janaki Nagar Extn) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it impacts the overall cost of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muthumari Amman Koil Street (Janaki Nagar Extn)?

The current guideline value of Muthumari Amman Koil Street (Janaki Nagar Extn) is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, and then increased to Rs 4,950 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification of Muthumari Amman Koil Street (Janaki Nagar Extn)?

Muthumari Amman Koil Street (Janaki Nagar Extn) is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 4,45,500 based on the current guideline value.

Which office should I visit for property registration in Valasaravakkam?

The Virugambakkam Sub Registrar Office is responsible for property registration in Valasaravakkam. It is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.