Guideline Value for North Davidson Street

North Davidson Street guideline value

The current guideline value of North Davidson Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO, classified as Commercial Class I Type - III.

How the guideline value of North Davidson Street has changed

Over the years, the guideline value of North Davidson Street has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 2,500 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a 140% rise. However, in 2017, the value dropped to Rs 4,020 per sq.ft, a decrease of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, and was revised again to Rs 6,600 per sq.ft in 2024, reflecting a 10% increase from the previous year.

The register does not have figures for North Davidson Street for the years 2002 and 2003. From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase amounts to 164%.

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 is Rs 4,400 per sq.ft, placing North Davidson Street's 2024 figure above this median.

• North Wall Road: Rs 5,500 per sq.ft (2024)
• N.S.C. Bose Road: Rs 16,500 per sq.ft (2024)
• Old Jail Road: Rs 4,900 per sq.ft (2024)
• Padavattamman Koil Street: Rs 5,500 per sq.ft (2024)
• Padriya Garden Street: Rs 4,400 per sq.ft (2024)
• Palaiyappan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in North Davidson Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers North Davidson Street?

The Sub Registrar Office that covers North Davidson 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 plays a crucial role in property transactions in Muthiyalpet. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When registering a property, the guideline value is considered to ensure that the transaction reflects the appropriate legal value of the property. This value is essential for calculating the applicable taxes and fees during the registration process.

Frequently asked questions

What is the current guideline value of North Davidson Street?

The current guideline value of North Davidson Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,500 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 164%.

What is the land classification for North Davidson Street?

North Davidson Street is classified as Commercial Class I Type - III under the guideline value register.

Where is the Sowcarpet Sub Registrar Office located?

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

How is the stamp duty calculated for properties in North Davidson Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.