Guideline Value for Pethu Naicken Street (Kondithope)

Pethu Naicken Street (Kondithope) guideline value

The current guideline value of Pethu Naicken Street (Kondithope) is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - I.

How the guideline value of Pethu Naicken Street (Kondithope) has changed

The guideline value for Pethu Naicken Street has seen several revisions over the years. In 2007, the guideline value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012. However, it then decreased to Rs 3,685 per sq.ft in 2017. The value rose again to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,000 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by a 9% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 200% in the guideline value.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Pethu Naicken Street (Kondithope) is above this median.

• Pethu Naicken Street (Park Town): Rs 13,000 per sq.ft (2024)
• Pidariyar Kovil 1st Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil Street: Rs 8,800 per sq.ft (2024)
• Perumal Mudali Street (Sowcarpet): Rs 13,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pethu Naicken Street (Kondithope)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total fees Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pethu Naicken Street (Kondithope)?

Pethu Naicken Street (Kondithope) falls under the jurisdiction of the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, please visit find your SRO.

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 that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and adheres to the prescribed regulations.

Frequently asked questions

What is the current guideline value of Pethu Naicken Street (Kondithope)?

The current guideline value of Pethu Naicken Street (Kondithope) 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 changed 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 the period.

What is the land classification for Pethu Naicken Street (Kondithope)?

Pethu Naicken Street (Kondithope) is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Pethu Naicken Street (Kondithope)?

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

How is stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. 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%.