Guideline Value for Parrys Venkatachalam Aiyer Street

Parrys Venkatachalam Aiyer Street guideline value

The current guideline value of Parrys Venkatachalam Aiyer Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, and it is classified as Residential Special Type - I.

How the guideline value of Parrys Venkatachalam Aiyer Street has changed

Since the 2007 revision, the guideline value for Parrys Venkatachalam Aiyer Street has increased significantly. In 2007, the value was Rs 2,000 per sq.ft, which rose to Rs 5,500 per sq.ft in 2012. However, this figure dropped to Rs 3,685 per sq.ft in 2017. The value then increased to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,000 per sq.ft from the 2024 revision. Overall, from 2007 to 2024, the guideline value has increased by 200%.

The changes between the revisions show a 175% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. There was a notable increase of 49% from 2017 to 2023, and a further rise of 9% from 2023 to 2024.

Guideline values in Muthiyalpet

In Muthiyalpet village, 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, making the current value of Parrys Venkatachalam Aiyer Street above this median.

• Paramasiva Chetty Street: Rs 4,400 per sq.ft (2024)
• Paramanatha Mudali Street: Rs 4,900 per sq.ft (2024)
• Pannaikaran Andiappan Street: Rs 3,800 per sq.ft (2024)
• Pattabirama Aiyer Street: Rs 4,400 per sq.ft (2024)
• Pattu Rasappan Street: Rs 4,400 per sq.ft (2024)
• Palliyappan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Parrys Venkatachalam Aiyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000. Together, the total cost for these fees would be Rs 5,40,000. 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parrys Venkatachalam Aiyer Street?

The Sub Registrar Office that covers Parrys Venkatachalam Aiyer 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 is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

Buyers and sellers should be aware that the guideline value is updated periodically, and it reflects the market conditions in the area. It is essential to check the latest guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Parrys Venkatachalam Aiyer Street?

The current guideline value of Parrys Venkatachalam Aiyer Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

What is the land classification for Parrys Venkatachalam Aiyer Street?

Parrys Venkatachalam Aiyer Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sowcarpet Sub Registrar Office, which covers Parrys Venkatachalam Aiyer Street, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at a rate of 7%.