Guideline Value for Isaac Street

Isaac Street guideline value

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

How the guideline value of Isaac Street has changed

The guideline value for Isaac Street has seen several revisions over the years. In 2003, the value was Rs 817 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 47%. The value then jumped to Rs 4,000 per sq.ft in 2012, reflecting a substantial increase of 233%. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 4,400 per sq.ft, a rise of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 439%. It is important to note that the register has no figure for Isaac Street in 2002.

Guideline values in Muthiyalpet

In Muthiyalpet village, 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 value is Rs 4,400 per sq.ft, which is the same as the 2024 figure for Isaac Street.

• Hussain Sahib Street: Rs 3,800 per sq.ft (2024)
• Jason Street: Rs 4,900 per sq.ft (2024)
• Hacker Jason Lane: Rs 3,800 per sq.ft (2024)
• Jintha Sahib Street: Rs 4,400 per sq.ft (2024)
• Govindappa Naicken Street Segment-2 (Annapillai Street- Amman Koil 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 Isaac Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, these fees total Rs 3,96,000. 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 Isaac Street?

The Sub Registrar Office covering Isaac 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 critical factor during the registration process of property transactions in Muthiyalpet. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the applicable fees will be based on the higher of the two values.

Frequently asked questions

What is the current guideline value of Isaac Street?

The current guideline value of Isaac 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 from Rs 817 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 439% over this period.

What is the land classification for Isaac Street?

Isaac Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What fees are associated with property transactions in Isaac Street?

Fees for property transactions include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Isaac Street?

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