Guideline Value for Linghi Chetty Street [fromN.S.C Bose Rd to Mookar Nallamuthu Street Junction ]

Linghi Chetty Street [fromN.S.C Bose Rd to Mookar Nallamuthu Street Junction ] guideline value

The current guideline value of Linghi Chetty Street [fromN.S.C Bose Rd to Mookar Nallamuthu Street Junction ] is Rs 15,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Linghi Chetty Street [fromN.S.C Bose Rd to Mookar Nallamuthu Street Junction ] has changed

The guideline value for Linghi Chetty Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 6,000 per sq.ft. This increased significantly to Rs 14,500 per sq.ft in 2012, marking a 142% increase. However, by 2017, the value dropped to Rs 9,715 per sq.ft, which was a decrease of 33%. The value then rose to Rs 14,500 per sq.ft in 2023, showing a 49% increase from the previous revision.

As of the 2024 revision, the guideline value stands at Rs 15,900 per sq.ft, reflecting a 10% increase from the 2023 figure. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 165% in the guideline value.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for this area is Rs 5,500 per sq.ft, making Linghi Chetty Street's 2024 figure of Rs 15,900 per sq.ft significantly above the median.

• Linghi Chetty street [from Mannady street Junction to Ibrahim sahib st Junction]: Rs 8,800 per sq.ft (2024)
• Linghi Chetty street [from P.O.street Junction to Mannady street Junction]: Rs 14,800 per sq.ft (2024)
• Lingi Chetty Street (Mookar Nallamuthu Street to Post Office Street Junction): Rs 15,900 per sq.ft (2024)
• Madras harbor+: Rs 7,100 per sq.ft (2024)
• Maglene street: Rs 4,900 per sq.ft (2024)
• Malayappan street: Rs 14,800 per sq.ft (2024)

Stamp duty and registration fee for property in Linghi Chetty Street [fromN.S.C Bose Rd to Mookar Nallamuthu Street Junction ]

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, while the registration fee at 2% would be Rs 3,18,000, bringing the total to Rs 14,31,000. 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 Linghi Chetty Street [fromN.S.C Bose Rd to Mookar Nallamuthu Street Junction ]?

The Sub Registrar Office that covers Linghi Chetty Street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the financial implications of the transaction, including the applicable stamp duty and registration fees. This ensures transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Linghi Chetty Street?

The current guideline value of Linghi Chetty Street [fromN.S.C Bose Rd to Mookar Nallamuthu Street Junction ] is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 6,000 per sq.ft in 2007 to Rs 15,900 per sq.ft in 2024. This represents an overall increase of 165% over the years.

What is the registration office for Linghi Chetty Street?

The registration office for Linghi Chetty Street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What are the other streets in Muthialpet with their guideline values?

Other streets in Muthialpet include Linghi Chetty street [from Mannady street Junction to Ibrahim sahib st Junction] at Rs 8,800 per sq.ft, and Linghi Chetty street [from P.O.street Junction to Mannady street Junction] at Rs 14,800 per sq.ft, among others.

How is stamp duty calculated for properties in Linghi Chetty Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,59,00,000, the stamp duty would be Rs 11,13,000 at a rate of 7%.