Guideline Value for Pattu Rasappan Street

Pattu Rasappan Street guideline value

The current guideline value of Pattu Rasappan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pattu Rasappan Street has changed

The guideline value for Pattu Rasappan Street has seen several revisions over the years. In 2003, the guideline value was Rs 941 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a rise of 28%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a significant increase of 233%. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The most recent revisions show an increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

There is no figure available for the year 2002 in the register for Pattu Rasappan Street. Overall, from 2003 to 2024, the guideline value has increased by 368%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 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 is Rs 4,400 per sq.ft, which is equal to the current figure for Pattu Rasappan Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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 accurate calculations.

Which Sub Registrar Office covers Pattu Rasappan Street?

Pattu Rasappan Street falls under 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 for property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Pattu Rasappan Street?

The current guideline value of Pattu Rasappan 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 941 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 368% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current guideline value for Pattu Rasappan Street.

What are the stamp duty and registration fees for properties in Pattu Rasappan Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office manages Pattu Rasappan Street?

Pattu Rasappan Street is managed by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.