Guideline Value for Muthumariamman Kovil Street

Muthumariamman Kovil Street guideline value

The current guideline value of Muthumariamman Kovil Street is Rs 305 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village, under the Sunguvarchattram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Muthumariamman Kovil Street has changed

The guideline value for Muthumariamman Kovil Street has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 200 per sq.ft, which increased to Rs 305 per sq.ft in the 2024 revision, marking a change of +53%.

With the 2024 revision, Muthumariamman Kovil Street's guideline value aligns with the median value of Rs 305 per sq.ft for the 39 streets in Mambakkam under the Sunguvarchattram SRO. The previous revisions were Rs 200 per sq.ft in 2023, and the street has seen no figures in earlier years.

Guideline values in Mambakkam

Mambakkam has a range of guideline values across its streets, with figures for 2024 varying from Rs 200 to Rs 1,418 per sq.ft. Muthumariamman Kovil Street's value of Rs 305 per sq.ft is equal to the median value in the village.

• Naddu Street: Rs 275 per sq.ft (2024)
• Narayana Nagar: Rs 505 per sq.ft (2024)
• New Avenue: Rs 500 per sq.ft (2024)
• Mettu Street: Rs 305 per sq.ft (2024)
• M.B.C Street: Rs 305 per sq.ft (2024)
• Padavettamman Kovil Street: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumariamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value amounts to Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total cost for these fees to Rs 27,450. Duty is charged on the higher of the guideline value or the sale price.

For more details on the calculation of fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthumariamman Kovil Street?

The Sub Registrar Office that covers Muthumariamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is essential for determining the stamp duty and registration fees when buying or selling property. It serves as a benchmark for the minimum value at which property transactions are recorded.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable taxes and fees. This ensures that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Muthumariamman Kovil Street?

The current guideline value of Muthumariamman Kovil Street is Rs 305 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 305 per sq.ft in 2024, representing a change of +53%.

What is the land classification for Muthumariamman Kovil Street?

The land classification for Muthumariamman Kovil Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Muthumariamman Kovil Street?

The Sub Registrar Office for Muthumariamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It is compared to the sale price, and the higher value is used for calculating the applicable taxes and fees.