Guideline Value for Muthumarriamman Koil Street

Muthumarriamman Koil Street guideline value

The current guideline value of Muthumarriamman Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of Muthumarriamman Koil Street has changed

The guideline value for Muthumarriamman Koil Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase from Rs 3,500 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 2,345 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. In 2012, the value was Rs 3,500 per sq.ft, showing a decrease of 33% to the 2017 figure. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. This demonstrates the fluctuations in property values over the years, with the current rate being the highest recorded for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Muthumarriamman Koil Street's 2024 figure above this median.

• Muthulakshmi Street: Rs 2,750 per sq.ft (2024)
• Muthulakshmi Nagar Sarathambal street: Rs 3,850 per sq.ft (2024)
• Muthuvel Nagar: Rs 3,850 per sq.ft (2024)
• muthulakshmi Nagar Ext: Rs 2,750 per sq.ft (2024)
• Muthulakshmi Nagar: Rs 3,850 per sq.ft (2024)
• M.Varadharasan Nagar Extension Part: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Muthumarriamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthumarriamman Koil Street?

The Sub Registrar Office that covers Muthumarriamman Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value rather than fluctuating market prices.

When buying or selling property, both parties must be aware of the guideline value as it impacts the overall cost of the transaction. This value helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Muthumarriamman Koil Street?

The current guideline value of Muthumarriamman Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 3,500 per sq.ft in 2023, Rs 2,345 per sq.ft in 2017, and Rs 3,500 per sq.ft in 2012. The most significant change was a 49% increase from 2017 to 2023.

What is the land classification for Muthumarriamman Koil Street?

Muthumarriamman Koil Street is classified as Residential Special Type - II. This classification is important for understanding the zoning and permissible uses of the property.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office registers properties in Chitlapakkam?

The Tambaram Joint 1 Sub Registrar Office is responsible for registering properties in Chitlapakkam. It is located at No.26, mes Road, East Tambaram, Chennai-600059.