Guideline Value for New Mariamman Koil Street

New Mariamman Koil Street guideline value

The current guideline value of New Mariamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO, classified as Residential Class III Type - I.

How the guideline value of New Mariamman Koil Street has changed

The guideline value for New Mariamman Koil Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of New Mariamman Koil Street is below this median.

• New Kuberaganapathi Street: Rs 3,300 per sq.ft (2024)
• Nolambur Main Road: Rs 7,100 per sq.ft (2024)
• Officer Colony: Rs 7,100 per sq.ft (2024)
• Olimbic Colony: Rs 7,100 per sq.ft (2024)
• Nehruji Street: Rs 3,800 per sq.ft (2024)
• Nehruji Nagar: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in New Mariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Mariamman Koil Street?

The Sub Registrar Office that covers New Mariamman Koil Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of New Mariamman Koil Street?

The current guideline value of New Mariamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for New Mariamman Koil Street?

New Mariamman Koil Street is classified as Residential Class III Type - I, indicating its intended use for residential purposes.

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

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 2,97,000 in fees.

Which Sub Registrar Office covers this street?

The Konnur Sub Registrar Office covers New Mariamman Koil Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.