Guideline Value for Pattabirama Aiyer Street

Pattabirama Aiyer Street guideline value

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

How the guideline value of Pattabirama Aiyer Street has changed

The guideline value for Pattabirama Aiyer Street has undergone several revisions over the years. The earliest available figure is from 2007, where it was Rs 1,200 per sq.ft. This value increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in 2024, which is a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for the area is Rs 4,400 per sq.ft, which is the same as the current value for Pattabirama Aiyer Street.

• Pattu Rasappan Street: Rs 4,400 per sq.ft (2024)
• Periya Neikaran Street: Rs 4,400 per sq.ft (2024)
• Parrys Venkatachalam Aiyer Street: Rs 6,000 per sq.ft (2024)
• Periyanna Mudali Street: Rs 4,400 per sq.ft (2024)
• Paramasiva Chetty Street: Rs 4,400 per sq.ft (2024)
• Paramanatha Mudali Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pattabirama Aiyer 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 at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 more detailed calculations.

Which Sub Registrar Office covers Pattabirama Aiyer Street?

The Sub Registrar Office that covers Pattabirama Aiyer 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 critical factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair value. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Pattabirama Aiyer Street?

The current guideline value of Pattabirama Aiyer 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the stamp duty for properties on Pattabirama Aiyer Street?

The stamp duty for properties on Pattabirama Aiyer Street is 7% of the guideline value or sale price, whichever is higher.

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 with similar guideline values include Pattu Rasappan Street, Periya Neikaran Street, and Periyanna Mudali Street, all at Rs 4,400 per sq.ft in 2024.