Guideline Value for Katchaleeswarar Garden street

Katchaleeswarar Garden street guideline value

The current guideline value of Katchaleeswarar Garden street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and is classified under Residential Class I Type - III within the Chennai North Joint I SRO.

How the guideline value of Katchaleeswarar Garden street has changed

The guideline value for Katchaleeswarar Garden street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 2,000 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, marking a significant rise of 125%. However, the value then decreased to Rs 3,015 per sq.ft in 2017, representing a decline of 33%. The guideline value saw a substantial increase to Rs 4,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 4,900 per sq.ft, reflecting a growth of 9% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 145%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Katchaleeswarar Garden street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in Katchaleeswarar Garden street

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

Which Sub Registrar Office covers Katchaleeswarar Garden street?

The Katchaleeswarar Garden street falls under the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade 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 an important factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Katchaleeswarar Garden street?

The current guideline value of Katchaleeswarar Garden street 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 seen several revisions, rising from Rs 2,000 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, which is an overall increase of 145%.

What is the land classification for Katchaleeswarar Garden street?

Katchaleeswarar Garden street is classified as Residential Class I Type - III.

Where can I find the registration office for Katchaleeswarar Garden street?

The registration office for Katchaleeswarar Garden street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade 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. The current rate is 7% for stamp duty and 2% for the registration fee.