Guideline Value for Muthumariamman Koil Lane (Ward-19)

Muthumariamman Koil Lane (Ward-19) guideline value

The current guideline value of Muthumariamman Koil Lane (Ward-19) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Muthumariamman Koil Lane (Ward-19) has changed

The guideline value for Muthumariamman Koil Lane has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. This was a decline of 33%. However, the value significantly increased to Rs 1,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is the same as the 2024 figure for Muthumariamman Koil Lane (Ward-19).

• Muthumariamman Koil Street (Ward-23): Rs 1,600 per sq.ft (2024)
• Muthumariamman Koil st (Ward No.19): Rs 1,600 per sq.ft (2024)
• Mutha Royal Nagar: Rs 2,500 per sq.ft (2024)
• Naga Lakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Nagambal Avenue (Ward No.24): Rs 1,300 per sq.ft (2024)
• Nagappa Estate (Ward-30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariamman Koil Lane (Ward-19)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muthumariamman Koil Lane (Ward-19)?

The Sub Registrar Office that covers Muthumariamman Koil Lane (Ward-19) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring transparency in real estate transactions.

When you buy or sell a property, the guideline value will be used to calculate the stamp duty and registration fees, which are mandatory costs associated with 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 Muthumariamman Koil Lane (Ward-19)?

The current guideline value of Muthumariamman Koil Lane (Ward-19) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Muthumariamman Koil Lane (Ward-19)?

The land classification for Muthumariamman Koil Lane (Ward-19) is Residential Class II Type - I.

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

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value.

Where is the Sub Registrar Office for Muthumariamman Koil Lane (Ward-19)?

The Sub Registrar Office covering Muthumariamman Koil Lane (Ward-19) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.