Guideline Value for Karupannan Street

Karupannan Street guideline value

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

How the guideline value of Karupannan Street has changed

The guideline value for Karupannan Street has seen several revisions over the years. In 2003, it was Rs 936 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a rise of 28%. The value then surged to Rs 4,000 per sq.ft in 2012, representing a significant increase of 233%. However, by 2017, it decreased to Rs 2,680 per sq.ft, a drop of 33%. The value rebounded to Rs 4,000 per sq.ft in 2023, and further increased to the current Rs 4,400 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 370%. It is important to note that there is no figure available for the year 2002 in the register for Karupannan Street.

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 is Rs 4,400 per sq.ft, which is equal to the current value of Karupannan Street.

• Kasi Chetty Lane: Rs 8,800 per sq.ft (2024)
• Kasi Chetty Street: Rs 8,800 per sq.ft (2024)
• Kanniah Naidu Street: Rs 5,500 per sq.ft (2024)
• Kesava Aiyer Street: Rs 4,400 per sq.ft (2024)
• Kandappan 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 Karupannan 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 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 essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karupannan Street?

The Sub Registrar Office that covers Karupannan 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 crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Karupannan Street?

The current guideline value of Karupannan 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 936 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 370% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value of Karupannan Street.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Karupannan Street located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, and it covers Karupannan Street.