Guideline Value for Muthumariamman Koil Street

Muthumariamman Koil Street guideline value

The current guideline value of Muthumariamman Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, 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 2003, the guideline value was Rs 312 per sq.ft, which increased to Rs 810 per sq.ft in 2007, marking a significant rise of 160%. Following this, the value continued to rise to Rs 1,474 per sq.ft in 2017, reflecting an 82% increase. The 2023 revision set the value at Rs 2,200 per sq.ft, a 49% increase from the previous revision. The most recent revision in 2024 has brought the guideline value to Rs 2,420 per sq.ft, representing a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 676%.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is equal to the 2024 figure for Muthumariamman Koil Street.

• Muthurangam Street: Rs 2,200 per sq.ft (2024)
• Murugan Street: Rs 2,200 per sq.ft (2024)
• Muthuthamizh Nagar: Rs 2,200 per sq.ft (2024)
• Muniyapillai Street: Rs 2,200 per sq.ft (2024)
• Nagappa Nagar 1st Cross Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 1st Cross Street: Rs 3,300 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 rate of Rs 2,420 per sq.ft, the guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, the total cost would be Rs 2,17,800. It is important to note that the 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 details.

Which Sub Registrar Office covers Muthumariamman Koil Street?

The Muthumariamman Koil Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value is a crucial factor in property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the registration process.

Additionally, the guideline value ensures transparency in property transactions, as it provides a standardized valuation for properties in the area. Buyers and sellers can refer to the guideline value to understand the expected costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Muthumariamman Koil Street?

The current guideline value of Muthumariamman Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 312 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 676% over the years.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft, which is the same as the current guideline value for Muthumariamman Koil Street.

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

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles registrations for Muthumariamman Koil Street?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, handles registrations for Muthumariamman Koil Street.