Guideline Value for Kasi Chetty Street

Kasi Chetty Street guideline value

The current guideline value of Kasi Chetty Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Kasi Chetty Street has changed

The guideline value for Kasi Chetty Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 5,360 per sq.ft. The 2023 revision saw a notable increase to Rs 8,000 per sq.ft, followed by a further increase to Rs 8,800 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 193%. Notably, there are no figures available for the revisions in 2002 and 2003 for this 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 in this village is Rs 4,400 per sq.ft, placing Kasi Chetty Street's 2024 figure above this median.

• Kasi Chetty Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasi Chetty Street?

The Sub Registrar Office that covers Kasi 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 during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, the guideline value helps ensure that the transaction is appropriately valued for tax purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kasi Chetty Street?

The current guideline value of Kasi Chetty Street 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, reflecting an overall increase of 193% across the revisions.

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

Other streets in Muthiyalpet include Kasi Chetty Lane at Rs 8,800 per sq.ft, Karupannan Street at Rs 4,400 per sq.ft, and Kanniah Naidu Street at Rs 5,500 per sq.ft, among others.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 88,00,000, the total fees would amount to Rs 7,92,000.

Which office handles the registration for Kasi Chetty Street?

The registration for Kasi Chetty Street is handled by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.