Guideline Value for Kasi Chetty Lane

Kasi Chetty Lane guideline value

The current guideline value of Kasi Chetty Lane in Muthiyalpet village is Rs 8,800 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet Sub Registrar Office and is classified as Commercial Class I Type - II.

How the guideline value of Kasi Chetty Lane has changed

The guideline value for Kasi Chetty Lane has seen several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, it decreased to Rs 5,360 per sq.ft in 2017. The value then rose to Rs 8,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 8,800 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall increase from 2007 to 2024 is 193%, reflecting a significant change in the guideline value over the years.

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 for the area is Rs 4,400 per sq.ft, making the 2024 figure for Kasi Chetty Lane above that median.

• Kasi Chetty Street: Rs 8,800 per sq.ft (2024)
• Karupannan Street: Rs 4,400 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 Kasi Chetty Lane

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kasi Chetty Lane?

The Sub Registrar Office that covers Kasi Chetty Lane is 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 crucial factor in the registration process when buying or selling property in Muthiyalpet. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps in establishing the minimum value for which the property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kasi Chetty Lane?

The current guideline value of Kasi Chetty Lane is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Kasi Chetty Lane's 2024 value being above this median.

What are the stamp duty rates for properties in Kasi Chetty Lane?

The stamp duty rate for properties in Kasi Chetty Lane is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kasi Chetty Lane?

The Sub Registrar Office for Kasi Chetty Lane is located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find more details through the provided link.