Guideline Value for Kandappa Chetty Street

Kandappa Chetty Street guideline value

The current guideline value of Kandappa Chetty Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Kandappa Chetty Street has changed

The guideline value for Kandappa Chetty Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 1,867 per sq.ft. This increased to Rs 2,000 per sq.ft in 2007, marking a 7% rise. The value then surged to Rs 5,500 per sq.ft in 2012, reflecting a significant increase of 175%. However, this was followed by a decrease to Rs 3,685 per sq.ft in 2017, which was a drop of 33%. In 2023, the value rose again to Rs 5,500 per sq.ft, and the most recent revision in 2024 set it at Rs 6,000 per sq.ft, a 9% increase from the previous year.

It is important to note that there is no recorded guideline value for Kandappa Chetty Street in the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 221%.

Guideline values in Muthiyalpet

In Muthiyalpet village, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Kandappa Chetty Street's 2024 figure above this median.

• Kandappa Mudali Street: Rs 4,400 per sq.ft (2024)
• Kanda Murthy Ayappan Street: Rs 4,900 per sq.ft (2024)
• Kandappan Street: Rs 6,000 per sq.ft (2024)
• Kancheepuram Sabapathi Mudali Street: Rs 4,900 per sq.ft (2024)
• Kanniah Naidu Street: Rs 5,500 per sq.ft (2024)
• Karupannan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kandappa Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000. Together, these fees would total Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for a more precise calculation based on your specific property details.

Which Sub Registrar Office covers Kandappa Chetty Street?

The Sub Registrar Office that covers Kandappa Chetty Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. 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 registering property in Muthiyalpet. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall transaction costs. Buyers should ensure that the sale price is equal to or greater than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kandappa Chetty Street?

The current guideline value of Kandappa Chetty Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,867 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, showing an overall increase of 221% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Kandappa Chetty Street's current value being above this median.

What are the stamp duty and registration fees for properties in Kandappa Chetty Street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000, and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles the registration for Kandappa Chetty Street?

The Sowcarpet Sub Registrar Office handles the registration for Kandappa Chetty Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.