Guideline Value for Muthumariamman Koil Street

Muthumariamman Koil Street guideline value

The current guideline value of Muthumariamman Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Muthumariamman Koil Street has changed

The guideline value for Muthumariamman Koil Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft, which saw a significant increase to Rs 1,800 per sq.ft in 2012. However, this value decreased to Rs 1,206 per sq.ft in 2017. The 2023 revision brought it up to Rs 1,500 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 1,980 per sq.ft.

Overall, the guideline value has increased by 890% from the 2007 revision to the 2024 revision. Notably, the increase from 2023 to 2024 is 32%, while the rise from 2017 to 2023 was 24%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. Muthumariamman Koil Street's 2024 figure of Rs 1,980 per sq.ft is equal to the median value for the village.

• Nandanan Street: Rs 1,100 per sq.ft (2024)
• Nandanar Street: Rs 1,100 per sq.ft (2024)
• M.G.R.Street: Rs 1,980 per sq.ft (2024)
• Nehru Street: Rs 1,980 per sq.ft (2024)
• Nethaji Street: Rs 1,100 per sq.ft (2024)
• Panchayat Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthumariamman Koil Street?

The Sub Registrar Office that covers Muthumariamman Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating applicable stamp duties and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price to ensure proper compliance with local regulations.

Frequently asked questions

What is the current guideline value of Muthumariamman Koil Street?

The current guideline value of Muthumariamman Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890% over the years.

What is the stamp duty on property in Muthumariamman Koil Street?

The stamp duty for property in Muthumariamman Koil Street is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,38,600.

Which Sub Registrar Office covers Muthumariamman Koil Street?

The Pallavaram Sub Registrar Office covers Muthumariamman Koil Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Muthumariamman Koil Street?

Muthumariamman Koil Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.