Guideline Value for Linghi Chetty Street[from Mannady Street Junction To Ibrahim Sahib St Junction]

Linghi Chetty street[from Mannady street Junction to Ibrahim sahib st Junction] guideline value

The current guideline value of Linghi Chetty street[from Mannady street Junction to Ibrahim sahib st Junction] is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village, under the Chennai North Joint I SRO, and is classified as Mixed Type - I.

How the guideline value of Linghi Chetty street[from Mannady street Junction to Ibrahim sahib st Junction] has changed

The guideline value for Linghi Chetty street has seen several revisions over the years. In 2007, the value was Rs 2,300 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, it dropped to Rs 5,360 per sq.ft in 2017. Following this, the value surged to Rs 8,000 per sq.ft in 2023, and currently stands at Rs 8,800 per sq.ft as of the 2024 revision. The changes between these revisions include a 248% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 283%.

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, with a median value of Rs 5,500 per sq.ft. Linghi Chetty street[from Mannady street Junction to Ibrahim sahib st Junction] has a guideline value above this median.

• Linghi Chetty Street [from N.S.C Bose Rd to Mookar Nallamuthu Street Junction]: Rs 15,900 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[from Mannady street Junction to Ibrahim sahib st Junction]

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Linghi Chetty street[from Mannady street Junction to Ibrahim sahib st Junction]?

The Linghi Chetty street[from Mannady street Junction to Ibrahim sahib st Junction] falls under the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Muthialpet. It is used to determine the stamp duty and registration fees that buyers must pay during the transaction process. The rates are set by the government and can vary based on the location and type of property.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value to ensure compliance with registration requirements and to accurately calculate the associated fees.

Frequently asked questions

What is the current guideline value of Linghi Chetty street?

The current guideline value of Linghi Chetty street[from Mannady street Junction to Ibrahim sahib st Junction] is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 283% over the years.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Linghi Chetty street is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the land classification of Linghi Chetty street?

Linghi Chetty street is classified as Mixed Type - I, which indicates the type of land use permitted in the area.