Guideline Value for Pannaikaran Andiappan Street

Pannaikaran Andiappan Street guideline value

The current guideline value of Pannaikaran Andiappan Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO, classified as Residential Class II Type - I.

How the guideline value of Pannaikaran Andiappan Street has changed

The guideline value for Pannaikaran Andiappan Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 250% rise. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 3,800 per sq.ft in 2024, which is a 9% increase.

It is important to note that the guideline register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 280%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have a guideline value for 2024, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Pannaikaran Andiappan Street's 2024 figure below this median.

• Paramanatha Mudali Street: Rs 4,900 per sq.ft (2024)
• Paramasiva Chetty Street: Rs 4,400 per sq.ft (2024)
• Palliyappan Street: Rs 4,400 per sq.ft (2024)
• Palliyappan Lane: Rs 4,400 per sq.ft (2024)
• Parrys Venkatachalam Aiyer Street: Rs 6,000 per sq.ft (2024)
• Pattabirama Aiyer Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pannaikaran Andiappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pannaikaran Andiappan Street?

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

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

The guideline value is a crucial factor in property transactions in Muthiyalpet, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all parties adhere to the legal requirements set by the state.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for property transactions, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pannaikaran Andiappan Street?

The current guideline value of Pannaikaran Andiappan Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 280% over the years.

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

Other streets in Muthiyalpet include Paramanatha Mudali Street at Rs 4,900 per sq.ft, Paramasiva Chetty Street at Rs 4,400 per sq.ft, and several others, with values ranging from Rs 3,800 to Rs 16,500 per sq.ft.

What fees are associated with property registration in Pannaikaran Andiappan Street?

When registering property in Pannaikaran Andiappan Street, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Pannaikaran Andiappan Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find more details by using the provided link.