Guideline Value for Margaret Joshwa Lane

Margaret Joshwa Lane guideline value

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

How the guideline value of Margaret Joshwa Lane has changed

The guideline value for Margaret Joshwa Lane has seen several revisions over the years. In 2003, the value was Rs 982 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. This was followed by a significant jump to Rs 4,000 per sq.ft in 2012. However, the value decreased to Rs 2,680 per sq.ft in 2017. The most recent revisions show an increase to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 348%. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet village, 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 guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Margaret Joshwa Lane.

• Marimuthu Lane: Rs 4,400 per sq.ft (2024)
• Mannar Street: Rs 4,400 per sq.ft (2024)
• Mannarsamy Street (Pakoda Street): Rs 4,400 per sq.ft (2024)
• ManiKanda Mudali Street: Rs 4,400 per sq.ft (2024)
• Mangammal Street 1st Lane: Rs 4,400 per sq.ft (2024)
• Mangammal Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Margaret Joshwa Lane

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, bringing the total fees to 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 also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Margaret Joshwa Lane?

The Sub Registrar Office that covers Margaret Joshwa Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Margaret Joshwa Lane?

The current guideline value of Margaret Joshwa Lane 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 982 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 348% over the years.

What are the other streets with the same guideline value in Muthiyalpet?

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

What is the stamp duty rate for properties in Margaret Joshwa Lane?

The stamp duty rate for properties in Margaret Joshwa Lane is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Margaret Joshwa Lane?

The Sowcarpet Sub Registrar Office, which covers Margaret Joshwa Lane, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.