Guideline Value for Malaiyappan Street

Malaiyappan Street guideline value

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

How the guideline value of Malaiyappan Street has changed

The guideline value for Malaiyappan Street has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 1,057 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a rise of 14%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a significant increase of 233%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Malaiyappan Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 316%.

Guideline values in Muthiyalpet

In Muthiyalpet village, there are 357 streets under the Sowcarpet SRO with the 2024 guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Malaiyappan Street. Below are the guideline values for other streets in Muthiyalpet:

• Malaiya Perumal Street: Rs 8,800 per sq.ft (2024)
• Managgappan Street: Rs 4,400 per sq.ft (2024)
• Mangammal Street: Rs 4,400 per sq.ft (2024)
• Mangammal Street 1st Lane: Rs 4,400 per sq.ft (2024)
• ManiKanda Mudali Street: Rs 4,400 per sq.ft (2024)
• Mannarsamy Street (Pakoda Street): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Malaiyappan 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malaiyappan Street?

The Sub Registrar Office that covers Malaiyappan 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 process for property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Malaiyappan Street?

The current guideline value of Malaiyappan 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 significantly, starting from Rs 1,057 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 316% over the years.

What are the other streets in Muthiyalpet with similar guideline values?

Other streets in Muthiyalpet with a guideline value of Rs 4,400 per sq.ft in 2024 include Managgappan Street, Mangammal Street, Mangammal Street 1st Lane, ManiKanda Mudali Street, and Mannarsamy Street (Pakoda Street).

What fees are associated with buying property in Malaiyappan Street?

When buying property in Malaiyappan Street, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Malaiyappan Street?

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