Guideline Value for Korsa Sahib Street

Korsa Sahib Street guideline value

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

How the guideline value of Korsa Sahib Street has changed

Over the years, the guideline value of Korsa Sahib Street has seen significant changes. In 2007, the value was Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The value saw a substantial increase of 233% from 2007 to 2012. 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 for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Korsa Sahib Street.

• Korsa Sahib Lane: Rs 4,400 per sq.ft (2024)
• Kondithoppu Street: Rs 3,800 per sq.ft (2024)
• Kondala Aiyer 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 Korsa Sahib 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 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Korsa Sahib Street?

The Sub Registrar Office that covers Korsa Sahib 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 an essential factor during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

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 Korsa Sahib Street?

The current guideline value of Korsa Sahib 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, with various increases and decreases in between, including a notable decrease from 2012 to 2017.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the guideline value for Korsa Sahib Street.

What are the stamp duty rates for property in Korsa Sahib Street?

The stamp duty for property in Korsa Sahib Street is charged at a rate of 7% on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Korsa Sahib Street?

The Sub Registrar Office for Korsa Sahib Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.