Guideline Value for Krishnappa Maistry Street

Krishnappa Maistry Street guideline value

The current guideline value of Krishnappa Maistry 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 Krishnappa Maistry Street has changed

The guideline value for Krishnappa Maistry Street has seen several revisions over the years. In 2003, the value was Rs 797 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. The 2012 revision brought the value to Rs 4,000 per sq.ft, but it dropped to Rs 2,680 per sq.ft in 2017. The value then rose significantly to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision.

Here are the percentage changes between the revisions: from 2003 to 2007, there was an increase of 51%; from 2007 to 2012, it increased by 233%; however, from 2012 to 2017, it decreased by 33%. The value then saw a significant increase of 49% from 2017 to 2023, followed by a 10% rise from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 452%. It is worth noting that the register has no figure for this street for the year 2002.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 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 Krishnappa Maistry Street.

• Krishnappa Naicken Agraharam Street: Rs 4,900 per sq.ft (2024)
• Krishnappa Naicken Tank Street: Rs 4,400 per sq.ft (2024)
• Krishna Aiyer Street: Rs 6,000 per sq.ft (2024)
• Kulandhai Street: Rs 6,000 per sq.ft (2024)
• Korsa Sahib Street: Rs 4,400 per sq.ft (2024)
• Korsa Sahib Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnappa Maistry 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, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnappa Maistry Street?

The Sub Registrar Office that covers Krishnappa Maistry 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 crucial factor in the registration of property transactions in Muthiyalpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly affect the total costs involved in the transaction. Buyers should ensure that they are informed about the latest values to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Krishnappa Maistry Street?

The current guideline value of Krishnappa Maistry 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 797 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and subsequent increases.

What are the stamp duty and registration fees for properties on this 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 Krishnappa Maistry Street?

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

How is the guideline value determined for properties in Muthiyalpet?

The guideline value is determined based on various revisions and is used to calculate the stamp duty and registration fees during property transactions in Muthiyalpet.