Guideline Value for Kesava Aiyer Street

Kesava Aiyer Street guideline value

The current guideline value of Kesava Aiyer Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Kesava Aiyer Street has changed

Over the years, the guideline value of Kesava Aiyer Street has seen significant changes. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 233%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and subsequently increased by 10% to the current value of Rs 4,400 per sq.ft in 2024.

The revisions for the years 2002 and 2003 do not have any figure recorded for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Kesava Aiyer Street.

• Kondala Aiyer Street: Rs 4,400 per sq.ft (2024)
• Kondithoppu Street: Rs 3,800 per sq.ft (2024)
• Korsa Sahib Lane: Rs 4,400 per sq.ft (2024)
• Korsa Sahib Street: Rs 4,400 per sq.ft (2024)
• Kasi Chetty Street: Rs 8,800 per sq.ft (2024)
• Kasi Chetty Lane: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kesava Aiyer Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. 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 Kesava Aiyer Street?

The Sub Registrar Office that covers Kesava Aiyer Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. 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 critical factor in the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kesava Aiyer Street?

The current guideline value of Kesava Aiyer Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 267% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Kesava Aiyer Street.

What are the stamp duty and registration fees for properties in Kesava Aiyer Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Kesava Aiyer Street located?

The Sub Registrar Office for Kesava Aiyer Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.