Guideline Value for Phopams broadway

Phopams broadway guideline value

The current guideline value of Phopams broadway is Rs 16,500 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Phopams broadway has changed

The guideline value of Phopams broadway has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 3,284 per sq.ft. This increased to Rs 3,732 per sq.ft in 2003, marking a 14% rise. By 2007, the value surged to Rs 5,500 per sq.ft, reflecting a significant increase of 47%. In 2012, the value was recorded at Rs 15,000 per sq.ft, which was a 173% increase from the previous revision. However, this figure decreased to Rs 10,050 per sq.ft in 2017, indicating a drop of 33%. The guideline value then rose to Rs 15,000 per sq.ft in 2023, before reaching the current value of Rs 16,500 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 402%. There are no figures available for other revisions for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry 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 Phopams broadway's 2024 figure above that median.

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

Stamp duty and registration fee for property in Phopams broadway

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value amounts to Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total fees to Rs 14,85,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Phopams broadway?

The Sub Registrar Office that covers Phopams broadway is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned 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 plays a crucial role in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value according to government standards.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Phopams broadway?

The current guideline value of Phopams broadway is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,284 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, representing an overall increase of 402%.

What is the land classification for Phopams broadway?

Phopams broadway is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Phopams broadway?

The Sub Registrar Office for Phopams broadway is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is the stamp duty calculated for properties in Muthialpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,65,00,000, the stamp duty would be Rs 11,55,000 at a rate of 7%.