Guideline Value for Davidson Street

Davidson Street guideline value

The current guideline value of Davidson Street in Muthiyalpet village is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Davidson Street has changed

The guideline value for Davidson Street has seen several revisions over the years. In the 2003 revision, the value was Rs 1,686 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, followed by a decrease to Rs 3,685 per sq.ft in 2017. The 2023 revision set the value at Rs 5,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 6,000 per sq.ft.

From 2003 to 2024, the overall change in guideline value is +256%. Notably, the increase from 2023 to 2024 is +9%, while the jump from 2017 to 2023 was +49%. The register does not contain figures for Davidson Street for the years 2002 and 2007.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, making Davidson Street's 2024 figure of Rs 6,000 per sq.ft above the median.

• Devaraja Mudali Street: Rs 8,800 per sq.ft (2024)
• Dharmaraja Kovil 1st Lane: Rs 4,400 per sq.ft (2024)
• Dharmaraja Kovil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Dharmaraja Kovil Street: Rs 4,400 per sq.ft (2024)
• Chinna Thambi Street: Rs 6,000 per sq.ft (2024)
• Chinna Neikaran Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Davidson Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total fees Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Davidson Street?

Davidson Street is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for further assistance.

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

The guideline value is an essential factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable during the buying or selling process.

When a property is sold, the buyer must pay stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Davidson Street?

The current guideline value of Davidson Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,686 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 256% over this period.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Davidson Street's value being above this median at Rs 6,000 per sq.ft.

What are the stamp duty and registration fees for Davidson Street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles registrations for Davidson Street?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles registrations for Davidson Street.