Guideline Value for Kumarappa Maistry Street

Kumarappa Maistry Street guideline value

The current guideline value of Kumarappa Maistry Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO, classified as Residential Special Type - I.

How the guideline value of Kumarappa Maistry Street has changed

In the 2003 revision, the guideline value was Rs 1,494 per sq.ft. This value increased to Rs 2,000 per sq.ft in 2007, marking a rise of 34%. The 2012 revision saw a significant jump to Rs 5,500 per sq.ft, reflecting a 175% increase. However, in 2017, the value decreased to Rs 3,685 per sq.ft, a decline of 33%. The 2023 revision brought the value back up to Rs 5,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, representing a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 302%. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Kumarappa Maistry Street's 2024 value above this median.

• Kumarappa Mudali Street: Rs 4,900 per sq.ft (2024)
• Kuppaiyer Street: Rs 4,400 per sq.ft (2024)
• Kutti Maistry Street: Rs 4,400 per sq.ft (2024)
• Kulandhai Street: Rs 6,000 per sq.ft (2024)
• Lakkumudas Lane: Rs 8,800 per sq.ft (2024)
• Lakkumudas Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarappa Maistry Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. 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 Kumarappa Maistry Street?

The Sub Registrar Office that covers Kumarappa Maistry Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Muthiyalpet, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the transaction.

It is important for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of property transactions. Understanding these values can aid in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kumarappa Maistry Street?

The current guideline value of Kumarappa Maistry Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,494 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, which is an overall increase of 302%.

What is the median guideline value for streets in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is below the current value of Kumarappa Maistry Street.

What fees are associated with property transactions in Kumarappa Maistry Street?

When transacting property in Kumarappa Maistry Street, buyers must consider stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kumarappa Maistry Street?

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