Guideline Value for Kondala Aiyer Street

Kondala Aiyer Street guideline value

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

How the guideline value of Kondala Aiyer Street has changed

The guideline value of Kondala Aiyer Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, there was a decrease in the 2017 revision, where the value dropped to Rs 2,680 per sq.ft, reflecting a decline of 33%. The value then rose sharply to Rs 4,000 per sq.ft in the 2023 revision, and subsequently to Rs 4,400 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, from the 2007 revision to the 2024 revision, there has been an increase of 267%, highlighting the fluctuations in the property values over the years.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this village is Rs 4,400 per sq.ft, which is equal to the current figure for Kondala Aiyer Street.

• 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)
• Krishna Aiyer Street: Rs 6,000 per sq.ft (2024)
• Krishnappa Maistry Street: Rs 4,400 per sq.ft (2024)
• Krishnappa Naicken Agraharam Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kondala Aiyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. 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 information.

Which Sub Registrar Office covers Kondala Aiyer Street?

The Sub Registrar Office that covers Kondala Aiyer Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kondala Aiyer Street?

The current guideline value of Kondala 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, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for property in Kondala Aiyer Street?

For a 1,000 sq.ft plot, the total guideline value is 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.

Which office handles registrations for Kondala Aiyer Street?

The Sowcarpet Sub Registrar Office handles registrations for Kondala Aiyer Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the land classification for Kondala Aiyer Street?

The land classification for Kondala Aiyer Street is Residential Class I Type - I, indicating its designation for residential use.