Guideline Value for Paramasiva Chetty Street

Paramasiva Chetty Street guideline value

The current guideline value of Paramasiva Chetty Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Paramasiva Chetty Street has changed

The guideline value for Paramasiva Chetty Street has seen several revisions over the years. In 2003, the value was Rs 817 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a rise of 47%. The value then surged significantly to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 233%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and further increased to the current value of Rs 4,400 per sq.ft in 2024, representing a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 439%. It is important to note that the register has no figure for this street for the year 2002.

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 guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Paramasiva Chetty Street.

• Paramanatha Mudali Street: Rs 4,900 per sq.ft (2024)
• Pannaikaran Andiappan Street: Rs 3,800 per sq.ft (2024)
• Parrys Venkatachalam Aiyer Street: Rs 6,000 per sq.ft (2024)
• Palliyappan Street: Rs 4,400 per sq.ft (2024)
• Palliyappan Lane: Rs 4,400 per sq.ft (2024)
• Pattabirama Aiyer Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Paramasiva Chetty 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, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. The total fees together would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Paramasiva Chetty Street?

The Sub Registrar Office that covers Paramasiva Chetty 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 information.

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

The guideline value is a crucial factor when buying or selling property in Muthiyalpet. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. The higher of the guideline value or the sale price is used to calculate the applicable duties.

When registering a property, it is essential to ensure that the sale price is aligned with the guideline value to avoid any discrepancies. This helps in ensuring a smooth registration process and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Paramasiva Chetty Street?

The current guideline value of Paramasiva Chetty 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 from Rs 817 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 439% over the years.

What is the stamp duty rate for property in Paramasiva Chetty Street?

The stamp duty for property in Paramasiva Chetty Street is charged at a rate of 7% on the higher of the guideline value or the sale price.

Where is the Sowcarpet Sub Registrar Office located?

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

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

Other streets in Muthiyalpet include Paramanatha Mudali Street at Rs 4,900 per sq.ft, Pannaikaran Andiappan Street at Rs 3,800 per sq.ft, and several others with a guideline value of Rs 4,400 per sq.ft.