Guideline Value for Genguraman Street

Genguraman Street guideline value

The current guideline value of Genguraman Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Genguraman Street has changed

The guideline value for Genguraman Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 827 per sq.ft. Following this, the 2007 revision increased the value to Rs 1,200 per sq.ft, marking a change of +45%. The 2012 revision brought the value back to Rs 4,000 per sq.ft, a significant increase of +233%. However, the 2017 revision saw a decrease to Rs 2,680 per sq.ft, a change of -33%. The value then rose to Rs 4,000 per sq.ft in the 2023 revision, and finally, in the 2024 revision, it reached the current value of Rs 4,400 per sq.ft, reflecting a +10% change from the previous year.

There is no figure available for Genguraman Street in the 2002 revision. Overall, the guideline value has increased by +432% from Rs 827 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values 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, which is equal to the 2024 figure for Genguraman Street.

• General Muthiah Mudali Street: Rs 4,400 per sq.ft (2024)
• George Chappel Street: Rs 4,900 per sq.ft (2024)
• G.H. Road: Rs 6,000 per sq.ft (2024)
• Girikori Street: Rs 4,900 per sq.ft (2024)
• Godown Street: Rs 8,800 per sq.ft (2024)
• Govindappa Naicken Street Segment-1 (NSC - Annapillai Street): Rs 13,000 per sq.ft (2024)

Stamp duty and registration fee for property in Genguraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Genguraman Street?

The Sub Registrar Office that covers Genguraman Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. 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 in property transactions in Muthiyalpet. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with legal requirements when registering property.

When a property is sold, the guideline value helps in calculating the applicable charges. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Genguraman Street?

The current guideline value of Genguraman Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 827 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +432%.

What is the stamp duty rate applicable for property in Genguraman Street?

The stamp duty rate for property transactions in Genguraman Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sowcarpet Sub Registrar Office located?

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

How is the guideline value used during property registration?

The guideline value is used to calculate the stamp duty and registration fees during property registration. It ensures that the fees are based on a standardized value set by the authorities.