Guideline Value for Muthumariamman Koil Street

Muthumariamman Koil Street guideline value

The current guideline value of Muthumariamman Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Muthumariamman Koil Street has changed

Over the years, the guideline value for Muthumariamman Koil Street has seen several revisions. The 2007 revision recorded a guideline value of Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, in the 2017 revision, the value rose significantly to Rs 670 per sq.ft, followed by a notable increase to Rs 1,000 per sq.ft in the 2023 revision. The current guideline value, as per the 2024 revision, is Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2017 revision to the 2023 revision, there was a 49% increase, while the 2012 to 2017 revision saw a decrease of 33%. The overall change from 2007 to 2024 reflects an increase of 83%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value of these streets is Rs 2,200 per sq.ft, placing Muthumariamman Koil Street's 2024 figure below this median.

• Muthulinga Mudali Street: Rs 1,300 per sq.ft (2024)
• Muthamil Street: Rs 1,100 per sq.ft (2024)
• Muthuramalingam Devar Street: Rs 1,800 per sq.ft (2024)
• Muthalamman Koil Street: Rs 2,900 per sq.ft (2024)
• Muthusamy Street: Rs 1,600 per sq.ft (2024)
• Murugesan Street: Rs 850 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthumariamman Koil Street?

The Sub Registrar Office that covers Muthumariamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value plays a crucial role in property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthumariamman Koil Street?

The current guideline value of Muthumariamman Koil Street is Rs 1,100 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 600 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024. Notable changes include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

What is the land classification of Muthumariamman Koil Street?

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

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Muthumariamman Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 99,000.