Guideline Value for Kalappa Achari Street

Kalappa Achari Street guideline value

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

How the guideline value of Kalappa Achari Street has changed

Over the years, the guideline value for Kalappa Achari Street has seen significant changes. The earliest recorded figure in the register is from 2003, which was Rs 920 per sq.ft. This figure increased to Rs 1,200 per sq.ft in 2007, marking a 30% increase. In 2012, the value rose to Rs 4,000 per sq.ft, reflecting a substantial increase of 233%. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a rise to the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 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 the same as the current value for Kalappa Achari Street.

• Kalathi Pillai Street: Rs 4,900 per sq.ft (2024)
• Jintha Sahib Street: Rs 4,400 per sq.ft (2024)
• Kancheepuram Sabapathi Mudali Street: Rs 4,900 per sq.ft (2024)
• Kanda Murthy Ayappan Street: Rs 4,900 per sq.ft (2024)
• Kandappa Chetty Street: Rs 6,000 per sq.ft (2024)
• Kandappa Mudali Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kalappa Achari 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 a rate of 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 guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kalappa Achari Street?

The Sub Registrar Office that covers Kalappa Achari Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees that need to be paid.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalappa Achari Street?

The current guideline value of Kalappa Achari 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 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 378% over this period.

What is the land classification for Kalappa Achari Street?

Kalappa Achari Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

How is stamp duty calculated for property in Kalappa Achari Street?

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

Where can I find the Sub Registrar Office for Kalappa Achari Street?

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