Guideline Value for Muthumariamman Koil 2nd Street

Muthumariamman Koil 2nd Street guideline value

The current guideline value of Muthumariamman Koil 2nd Street is Rs 275 per sq.ft, effective from 1 July 2024. This street is located in Aangadu village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Muthumariamman Koil 2nd Street has changed

The guideline value for Muthumariamman Koil 2nd Street has seen several revisions over the years. The earliest recorded value is from 2007, which was Rs 100 per sq.ft. This increased to Rs 250 per sq.ft in 2012, but then decreased to Rs 167 per sq.ft in 2017. In 2023, the value rose significantly to Rs 250 per sq.ft, and as of the 2024 revision, it stands at Rs 275 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Aangadu

Aangadu village has a total of 23 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,200 per sq.ft. The median value among these streets is Rs 275 per sq.ft, which is equal to the current guideline value of Muthumariamman Koil 2nd Street.

• Muthumariamman Koil 3rd Street: Rs 275 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 275 per sq.ft (2024)
• New Sun City: Rs 220 per sq.ft (2024)
• New Sun City Extension: Rs 550 per sq.ft (2024)
• New Sun City Extension I: Rs 550 per sq.ft (2024)
• New Sun City Phase - I: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total cost for these fees to Rs 24,750. It is important to note that 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 precise calculations based on your specific property.

Which Sub Registrar Office covers Muthumariamman Koil 2nd Street?

The Muthumariamman Koil 2nd Street falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Aangadu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthumariamman Koil 2nd Street?

The current guideline value of Muthumariamman Koil 2nd Street is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 275 per sq.ft in 2024, reflecting an overall increase of 175% over this period.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Muthumariamman Koil 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Muthumariamman Koil 2nd Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value for streets in Aangadu?

The median guideline value for streets in Aangadu is Rs 275 per sq.ft, which is the same as the current value for Muthumariamman Koil 2nd Street.