Guideline Value for Kandappan Street

Kandappan Street guideline value

The current guideline value of Kandappan Street in Muthiyalpet village is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sowcarpet Sub Registrar Office and is classified as Residential Special Type - I.

How the guideline value of Kandappan Street has changed

The guideline value for Kandappan Street has seen several revisions over the years. The earliest recorded figure is from 2003, where it stood at Rs 1,022 per sq.ft. This value increased significantly to Rs 2,000 per sq.ft in 2007, marking a rise of 96%. In 2012, the value remained the same at Rs 5,500 per sq.ft, but then saw a decrease of 33% to Rs 3,685 per sq.ft in 2017. The next revision in 2023 brought it up to Rs 5,500 per sq.ft, followed by the current figure of Rs 6,000 per sq.ft in 2024, which is a 9% increase.

It is important to note that there is no figure recorded for Kandappan Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 487%.

Guideline values in Muthiyalpet

In Muthiyalpet village, 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, positioning Kandappan Street's 2024 figure above this median.

• Kandappa Mudali Street: Rs 4,400 per sq.ft (2024)
• Kandappa Chetty Street: Rs 6,000 per sq.ft (2024)
• Kanda Murthy Ayappan Street: Rs 4,900 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 Kandappan Street

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

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kandappan Street?

Kandappan Street falls under the jurisdiction of the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Kandappan Street?

The current guideline value of Kandappan 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 from Rs 1,022 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

What are the other streets in Muthiyalpet and their guideline values?

Other streets in Muthiyalpet include Kandappa Mudali Street at Rs 4,400 per sq.ft, Kandappa Chetty Street at Rs 6,000 per sq.ft, and Kanda Murthy Ayappan Street at Rs 4,900 per sq.ft, among others.

How is stamp duty calculated for properties on Kandappan Street?

Stamp duty for properties on Kandappan Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 4,20,000.

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

The Sub Registrar Office covering Kandappan Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find more information about your SRO online.