Guideline Value for Muthumari Amman Koil Street

Muthumari Amman Koil Street guideline value

The current guideline value of Muthumari Amman Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class III Type - I.

How the guideline value of Muthumari Amman Koil Street has changed

The guideline value for Muthumari Amman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was later decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that Muthumari Amman Koil Street's 2024 figure is below this median.

• Muthamizh Nagar: Rs 1,300 per sq.ft (2024)
• Mullai Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn II: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn I: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn Cross Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumari Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Muthumari Amman Koil Street?

The Sub Registrar Office that covers Muthumari Amman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Madambakkam. It is used as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When a property is sold, the seller and buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the government receives the appropriate taxes based on the established guideline values.

Frequently asked questions

What is the current guideline value of Muthumari Amman Koil Street?

The current guideline value of Muthumari Amman Koil Street is Rs 1,100 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 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Muthumari Amman Koil Street?

Muthumari Amman Koil Street is classified as Residential Class III Type - I.

What is the stamp duty rate for properties in Muthumari Amman Koil Street?

The stamp duty rate for properties in Muthumari Amman Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.