Guideline Value for Jintha Sahib Street

Jintha Sahib Street guideline value

The current guideline value of Jintha Sahib Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jintha Sahib Street has changed

The guideline value for Jintha Sahib Street has undergone several revisions over the years. Starting from Rs 920 per sq.ft in 2003, it increased to Rs 1,200 per sq.ft in 2007. The value then saw a significant rise to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. 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.

Specifically, the changes between revisions are notable: from 2003 to 2007, the value increased by 30%; from 2007 to 2012, it rose by 233%; however, from 2012 to 2017, there was a decrease of 33%. The value then surged by 49% from 2017 to 2023, and finally, a 10% increase was observed from 2023 to 2024. The register has no figure for this street in 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 is Rs 4,400 per sq.ft, which is equal to the current guideline value of Jintha Sahib Street.

• Jason Street: Rs 4,900 per sq.ft (2024)
• Kalappa Achari Street: Rs 4,400 per sq.ft (2024)
• Kalathi Pillai Street: Rs 4,900 per sq.ft (2024)
• Isaac Street: Rs 4,400 per sq.ft (2024)
• Hussain Sahib Street: Rs 3,800 per sq.ft (2024)
• Kancheepuram Sabapathi Mudali Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jintha Sahib Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would amount to Rs 88,000, making the total fees Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jintha Sahib Street?

The Sub Registrar Office that covers Jintha Sahib 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 plays a crucial role in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction. Accurate knowledge of the guideline value is essential for smooth property dealings.

Frequently asked questions

What is the current guideline value of Jintha Sahib Street?

The current guideline value of Jintha Sahib 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 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, with several revisions in between, including a drop in 2017.

What is the land classification for Jintha Sahib Street?

The land classification for Jintha Sahib Street is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Jintha Sahib Street?

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

How is stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.