Guideline Value for Periya Udhandi Street

Periya Udhandi Street guideline value

The current guideline value of Periya Udhandi Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - II.

How the guideline value of Periya Udhandi Street has changed

Over the years, the guideline value of Periya Udhandi Street has seen significant changes. The earliest recorded revision in 2003 was Rs 1,494 per sq.ft. This increased to Rs 1,700 per sq.ft in 2007, marking a rise of 14%. The value then surged to Rs 5,000 per sq.ft in 2012, reflecting a substantial increase of 194%. However, it dropped to Rs 3,350 per sq.ft in 2017, which was a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and finally, it reached the current rate of Rs 5,500 per sq.ft in 2024, representing a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the increase was 49%. Overall, from 2003 to 2024, the guideline value has increased by 268%. It is important to note that the register has no figure for the year 2002 for this street.

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 value for these streets is Rs 4,400 per sq.ft, placing Periya Udhandi Street's 2024 figure above this median.

• Perumal Chetty Street: Rs 3,800 per sq.ft (2024)
• Perumal Koil Garden: Rs 4,400 per sq.ft (2024)
• Perumal Koil Garden 1st Lane: Rs 3,800 per sq.ft (2024)
• Perumal Koil Garden 2nd Lane: Rs 3,800 per sq.ft (2024)
• Perumal Koil Garden 3rd Lane: Rs 3,800 per sq.ft (2024)
• Perumal Koil Garden 4th Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Udhandi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periya Udhandi Street?

The Sub Registrar Office that covers Periya Udhandi 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 plays a crucial role in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periya Udhandi Street?

The current guideline value of Periya Udhandi Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,494 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 268% over this period.

What are the guideline values of other streets in Muthiyalpet?

Other streets in Muthiyalpet have varying guideline values, with rates ranging from Rs 3,800 to Rs 16,500 per sq.ft. Periya Udhandi Street's value is above the median of Rs 4,400 per sq.ft.

What fees are associated with property transactions in Periya Udhandi Street?

When purchasing property on Periya Udhandi Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Periya Udhandi Street located?

The Sowcarpet Sub Registrar Office, which covers Periya Udhandi Street, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.