Guideline Value for Muthumariamman Colony

Muthumariamman Colony guideline value

The current guideline value of Muthumariamman Colony in Periakudal village is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the AnnaNagar SRO and is classified as Residential Class II Type - II.

How the guideline value of Muthumariamman Colony has changed

The guideline value for Muthumariamman Colony has seen several revisions over the years. Starting from Rs 1,200 per sq.ft in 2007, it increased to Rs 4,000 per sq.ft in 2012. However, it then dropped to Rs 2,680 per sq.ft in 2017 before rising significantly to Rs 4,000 per sq.ft in 2023, and finally reaching Rs 4,400 per sq.ft in 2024.

Between these revisions, the changes were notable. The increase from 2017 to 2023 was +49%, while the rise from 2023 to 2024 was +10%. The 2012 to 2017 period saw a decrease of -33%, and the jump from 2007 to 2012 was +233%. Overall, from 2007 to 2024, the guideline value has increased by +267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Periakudal

In Periakudal village, there are 101 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 23,553 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, making the current guideline value of Muthumariamman Colony below this median.

• Pulla Avenue: Rs 16,500 per sq.ft (2024)
• K-Blcck, Ist Main Road: Rs 15,400 per sq.ft (2024)
• Ist Avenue Block Plot No.F 217A B218 to 225. 225A.226A. 261. 262. 142 to 162: Rs 15,400 per sq.ft (2024)
• I-Block, 9th Street: Rs 11,500 per sq.ft (2024)
• I Block, 4th Street: Rs 11,500 per sq.ft (2024)
• I-Block, 2nd Main Road,382 to 389, 812 to 817: Rs 12,600 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariamman Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 Muthumariamman Colony?

The Sub Registrar Office that covers Muthumariamman Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Periakudal. It is used to determine the stamp duty and registration fees that are payable to the government during the transaction.

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 based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Muthumariamman Colony?

The current guideline value of Muthumariamman Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various increments and decrements in between.

What are the stamp duty rates for property in Muthumariamman Colony?

The stamp duty for property in Muthumariamman Colony is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification for Muthumariamman Colony?

Muthumariamman Colony is classified as Residential Class II Type - II under the guideline value register.