Guideline Value for Katchaleeswarar Pagoda lane

Katchaleeswarar Pagoda lane guideline value

The current guideline value of Katchaleeswarar Pagoda lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This lane is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Katchaleeswarar Pagoda lane has changed

The guideline value for Katchaleeswarar Pagoda lane has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it saw a decrease to Rs 3,015 per sq.ft in 2017. The next revision in 2023 raised it to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,900 per sq.ft.

Between the revisions, the changes are notable. From 2007 to 2012, there was a remarkable increase of 200%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, followed by a 9% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 227%.

Guideline values in Muthialpet

Muthialpet village has a total of 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Katchaleeswarar Pagoda lane's 2024 figure below that median.

• Katchaleeswarar Koil street: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar Pagoda street: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar Garden street: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar Agraharam street: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar 3rd lane: Rs 3,800 per sq.ft (2024)
• Katchaleeswarar 2nd lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Katchaleeswarar Pagoda lane

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Katchaleeswarar Pagoda lane?

The Katchaleeswarar Pagoda lane is covered by the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthialpet. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Katchaleeswarar Pagoda lane?

The current guideline value of Katchaleeswarar Pagoda lane is Rs 4,900 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 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 227% over the years.

What is the land classification for Katchaleeswarar Pagoda lane?

Katchaleeswarar Pagoda lane is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Katchaleeswarar Pagoda lane?

The Sub Registrar Office covering Katchaleeswarar Pagoda lane is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is the stamp duty calculated for properties in Muthialpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.