Guideline Value for Kutti Maistry Street

Kutti Maistry Street guideline value

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

How the guideline value of Kutti Maistry Street has changed

The guideline value for Kutti Maistry Street has seen several revisions over the years. In 2003, the guideline value was Rs 946 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. Following this, the value rose significantly to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 4,400 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%. The 2007 to 2012 period experienced a remarkable increase of 233%, and the increase from 2003 to 2007 was 27%. Overall, from 2003 to 2024, the guideline value has increased by 365%. The register has no figure for this street in 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 value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Kutti Maistry Street.

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

Stamp duty and registration fee for property in Kutti 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, making the total cost for these fees 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kutti Maistry Street?

The Sub Registrar Office covering Kutti 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 when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Kutti Maistry Street?

The current guideline value of Kutti 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 946 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 365% over the years.

What are the stamp duty and registration fees for property in Kutti Maistry 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.

Which office handles registrations for Kutti Maistry Street?

The Sowcarpet Sub Registrar Office is responsible for handling registrations for Kutti Maistry Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the land classification of Kutti Maistry Street?

Kutti Maistry Street is classified as Residential Class I Type - I, indicating its suitability for residential development.