Guideline Value for Katchaleeswarar 1st lane

Katchaleeswarar 1st lane guideline value

The current guideline value of Katchaleeswarar 1st lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Katchaleeswarar 1st lane has changed

The guideline value for Katchaleeswarar 1st lane has undergone several revisions over the years. The earliest recorded value was Rs 998 per sq.ft in 2002, which increased to Rs 1,135 per sq.ft in 2003. Following this, the value rose to Rs 1,500 per sq.ft in 2007, and then significantly jumped to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017, before rising again to Rs 3,500 per sq.ft in 2023, and reaching the current value of Rs 3,800 per sq.ft in 2024.

The percentage changes between these revisions are noteworthy. From 2002 to 2024, the overall increase in guideline value is 281%. Specifically, the value increased by 14% from 2002 to 2003, 32% from 2003 to 2007, and 133% from 2007 to 2012. A decrease of 33% was observed from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and a further increase of 9% from 2023 to 2024.

Guideline values in Muthialpet

Muthialpet village features 160 streets under the Chennai North Joint I SRO, with guideline values in 2024 ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Katchaleeswarar 1st lane's current value below that median.

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

Stamp duty and registration fee for property in Katchaleeswarar 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Katchaleeswarar 1st lane?

The Katchaleeswarar 1st lane falls under the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Muthialpet. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When buying or selling property, the guideline value helps in establishing the minimum value for the transaction. This ensures that all parties are aware of the financial implications of the sale, as the fees are based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Katchaleeswarar 1st lane?

The current guideline value of Katchaleeswarar 1st lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 998 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 281% over the years.

What is the median guideline value in Muthialpet?

The median guideline value in Muthialpet is Rs 5,500 per sq.ft, with Katchaleeswarar 1st lane's current value being below this median.

What fees are applicable when registering property in Katchaleeswarar 1st lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur total fees of Rs 3,42,000.

Where can I find my Sub Registrar Office?

The Sub Registrar Office covering Katchaleeswarar 1st lane is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find more details by visiting the provided link.