Guideline Value for Francis Tourin Street

Francis Tourin Street guideline value

The current guideline value of Francis Tourin Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - III.

How the guideline value of Francis Tourin Street has changed

The guideline value for Francis Tourin Street has undergone several revisions over the years. In 2003, the value was Rs 1,115 per sq.ft, which increased to Rs 1,600 per sq.ft in 2007, marking a significant rise of 43%. The value then saw a dramatic jump to Rs 4,500 per sq.ft in 2012, an increase of 181%. However, between 2012 and 2017, the guideline value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 4,900 per sq.ft, representing a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 339%. It is important to note that there is no figure available for Francis Tourin Street for the year 2002 in the register.

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, placing Francis Tourin Street's 2024 figure above this median.

• Evening Bazar Road: Rs 13,000 per sq.ft (2024)
• Esplanade Road: Rs 13,000 per sq.ft (2024)
• Erusappa Maistry Street: Rs 13,000 per sq.ft (2024)
• Erusappa Lane: Rs 4,900 per sq.ft (2024)
• Erulappan Street: Rs 4,900 per sq.ft (2024)
• Elephant Gate Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Francis Tourin Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Francis Tourin Street?

The Sub Registrar Office that covers Francis Tourin Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Francis Tourin Street?

The current guideline value of Francis Tourin Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,115 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 339% over this period.

What is the land classification for Francis Tourin Street?

Francis Tourin Street is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000 for these fees.

Which office handles property registrations for Francis Tourin Street?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, is responsible for handling property registrations for Francis Tourin Street.