Guideline Value for George Chappel Street

George Chappel Street guideline value

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

How the guideline value of George Chappel Street has changed

The guideline value for George Chappel Street has seen several revisions over the years. In the 2003 revision, the value was Rs 1,267 per sq.ft, which increased to Rs 1,600 per sq.ft in 2007. The 2012 revision saw a rise to Rs 4,500 per sq.ft, but it then decreased to Rs 3,015 per sq.ft in 2017. Following this, the 2023 revision set the value at Rs 4,500 per sq.ft, and the current 2024 revision has increased it to Rs 4,900 per sq.ft.

Overall, from 2003 to 2024, the guideline value has increased by 287%. The most significant change occurred between 2007 and 2012, where the value rose by 181%. Notably, the register has no figure for this street for the year 2002.

Guideline values in Muthiyalpet

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

• G.H. Road: Rs 6,000 per sq.ft (2024)
• Girikori Street: Rs 4,900 per sq.ft (2024)
• Genguraman Street: Rs 4,400 per sq.ft (2024)
• General Muthiah Mudali Street: Rs 4,400 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 George Chappel 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 amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers George Chappel Street?

The Sub Registrar Office that covers George Chappel 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 when buying or selling property in Muthiyalpet, as it determines the minimum value at which the property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory costs in the property transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of George Chappel Street?

The current guideline value of George Chappel 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 1,267 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 287% over this period.

What are the stamp duty and registration fees for properties on George Chappel 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.

What is the land classification for George Chappel Street?

George Chappel Street is classified as Residential Special Type - III under the local land classification regulations.

Which office handles registrations for George Chappel Street?

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