Guideline Value for Girikori Street

Girikori Street guideline value

The current guideline value of Girikori 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 Girikori Street has changed

The guideline value for Girikori Street has seen several revisions over the years. In 2003, the guideline value was Rs 922 per sq.ft, which increased to Rs 1,600 per sq.ft in 2007. The value then rose significantly to Rs 4,500 per sq.ft in 2012, before dropping to Rs 3,015 per sq.ft in 2017. Following this, the value surged to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision. Notably, the register has no figure for the year 2002 for this street.

Between the revisions, the changes are as follows: from 2003 to 2007, the increase was +74%; from 2007 to 2012, there was a substantial rise of +181%; however, the value decreased by -33% from 2012 to 2017. A significant increase of +49% occurred from 2017 to 2023, and the latest revision shows an increase of +9% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +431%.

Guideline values in Muthiyalpet

Muthiyalpet village has 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Girikori Street is above this median.

• G.H. Road: Rs 6,000 per sq.ft (2024)
• George Chappel 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 Girikori Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to 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, resulting in a total of Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Girikori Street?

The Sub Registrar Office that covers Girikori Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. You can find your SRO here.

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

The guideline value is a crucial factor when registering property in Muthiyalpet. It serves as a benchmark for determining the value of the property being sold or purchased and is used to calculate the applicable stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is registered at a value that reflects its worth according to government standards. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Girikori Street?

The current guideline value of Girikori 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 922 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, with various increases and decreases in between, including a significant +431% increase overall from 2003 to 2024.

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

For a 1,000 sq.ft plot, the total guideline value is 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.

Which office handles registrations for Girikori Street?

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

What is the land classification for Girikori Street?

Girikori Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.