Guideline Value for Katchaleeswarar 2nd lane

Katchaleeswarar 2nd lane guideline value

The current guideline value of Katchaleeswarar 2nd lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village, under the Chennai North Joint I SRO, and is classified as Residential Class III Type - II.

How the guideline value of Katchaleeswarar 2nd lane has changed

The guideline value for Katchaleeswarar 2nd lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 998 per sq.ft, which increased to Rs 1,135 per sq.ft in 2003, marking a change of +14%. The value then rose to Rs 1,500 per sq.ft in 2007, a growth of +32%. In 2012, it reached Rs 3,500 per sq.ft, reflecting a significant increase of +133%. However, this value dropped to Rs 2,345 per sq.ft in 2017, a decrease of -33%. The 2023 revision saw the value increase to Rs 3,500 per sq.ft, followed by the current value of Rs 3,800 per sq.ft in 2024, which is an increase of +9%.

Overall, from 2002 to 2024, the guideline value has increased by +281%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with the 2024 guideline values 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 2nd lane's 2024 figure below that median.

• Katchaleeswarar 1st 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 2nd 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, together totaling 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 more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Katchaleeswarar 2nd lane?

Katchaleeswarar 2nd 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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Muthialpet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the higher value between the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the registration process is aligned with the official valuations set by the government.

Frequently asked questions

What is the current guideline value of Katchaleeswarar 2nd lane?

The current guideline value of Katchaleeswarar 2nd 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, marking an overall increase of +281%.

What are the guideline values for other streets in Muthialpet?

Other streets in Muthialpet have varying guideline values, with rates ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft.

What fees are associated with buying property in Katchaleeswarar 2nd lane?

When buying property, stamp duty at 7% and a registration fee at 2% are applicable, based on the higher of the guideline value or the sale price.

Which office handles property registrations for Katchaleeswarar 2nd lane?

The Chennai North Joint I Sub Registrar Office handles property registrations for Katchaleeswarar 2nd lane, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.