Guideline Value for Periya kutty lane

Periya kutty lane guideline value

The current guideline value of Periya kutty lane in Muthialpet village is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Periya kutty lane has changed

Over the years, the guideline value of Periya kutty lane has seen several revisions. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a 200% rise. However, in the 2017 revision, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 4,500 per sq.ft in the 2023 revision, and most recently, it has been set at Rs 4,900 per sq.ft in the 2024 revision, representing a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 227%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing the guideline value of Periya kutty lane below this median.

• Periya kutty street: Rs 5,500 per sq.ft (2024)
• Periannan street: Rs 11,000 per sq.ft (2024)
• Panichavan lane: Rs 4,900 per sq.ft (2024)
• Philips street: Rs 7,700 per sq.ft (2024)
• Phopams broadway: Rs 16,500 per sq.ft (2024)
• Post Office street (from National Hotel to Thambu Chetty street Junction): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periya kutty lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya kutty lane?

The Sub Registrar Office that covers Periya kutty lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer decides to purchase a property, the guideline value helps in calculating the stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining a standard valuation across different properties in the area.

Frequently asked questions

What is the current guideline value of Periya kutty lane?

The current guideline value of Periya kutty lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 227% over the years.

What are the other streets in Muthialpet and their guideline values?

Other streets in Muthialpet have varying guideline values, with Periya kutty street at Rs 5,500 per sq.ft, Periannan street at Rs 11,000 per sq.ft, and Panichavan lane at Rs 4,900 per sq.ft, among others.

What is the registration fee for property in Periya kutty lane?

The registration fee for property in Periya kutty lane is calculated based on the guideline value, with a 2% fee applicable. For example, a property valued at Rs 49,00,000 would incur a registration fee of Rs 98,000.

Where can I find the Sub Registrar Office for Periya kutty lane?

The Sub Registrar Office for Periya kutty lane is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105, under the Chennai North Joint I SRO.