Guideline Value for North Port street*

North Port street* guideline value

The current guideline value of North Port street* is Rs 18,000 per sq.ft. It is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of North Port street* has changed

The guideline value for North Port street* has seen several revisions over the years. In 2002, the value was Rs 6,452 per sq.ft, which increased to Rs 7,333 per sq.ft in 2003. This was a modest increase of 14%. Following this, in 2007, the value rose significantly to Rs 7,400 per sq.ft, marking a slight increase of 1%. The next revision in 2012 saw a decrease to Rs 16,500 per sq.ft, a drop of 33% from the previous figure. However, it rebounded to Rs 11,055 per sq.ft in 2017, which was a substantial increase of 49% from 2012. The most recent revisions show the value at Rs 16,500 per sq.ft in 2023, followed by the current value of Rs 18,000 per sq.ft in 2024, reflecting a 9% increase.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 179%.

Guideline values in Muthialpet

In Muthialpet, a total of 160 streets under the Chennai North Joint I SRO carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, indicating that North Port street* is above this median.

• N.S.C.Bose road: Rs 15,900 per sq.ft (2024)
• North Beech Road(Rajaji Salai): Rs 18,000 per sq.ft (2024)
• North Beech Road 4th lane: Rs 11,000 per sq.ft (2024)
• North Beech Road 3rd lane: Rs 4,900 per sq.ft (2024)
• North Beech Road 2nd lane: Rs 7,100 per sq.ft (2024)
• North Beech Road 1st lane*: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in North Port street*

For a 1,000 sq.ft plot at the current guideline value of Rs 18,000 per sq.ft, the total guideline value would be Rs 1,80,00,000. The stamp duty at 7% would amount to Rs 12,60,000, and the registration fee at 2% would be Rs 3,60,000, totaling Rs 16,20,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers North Port street*?

The Sub Registrar Office that covers North Port street* is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the higher of the guideline value and the sale price is considered for calculating these fees. This ensures that the government receives the appropriate revenue based on the property's worth as established by the guideline value.

Frequently asked questions

What is the current guideline value of North Port street*?

The current guideline value of North Port street* is Rs 18,000 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,452 per sq.ft in 2002 to Rs 18,000 per sq.ft in 2024, showing an overall increase of 179%.

What is the land classification for North Port street*?

The land classification for North Port street* is Commercial Special Type - I.

What are the stamp duty and registration fees for a property in North Port street*?

For a property valued at Rs 1,80,00,000, the stamp duty would be Rs 12,60,000 and the registration fee would be Rs 3,60,000, totaling Rs 16,20,000.

Which office handles the registration for North Port street*?

The Chennai North Joint I Sub Registrar Office handles the registration for North Port street*, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.