Guideline Value for Pidariyar Kovil 1st Lane

Pidariyar Kovil 1st Lane guideline value

The current guideline value of Pidariyar Kovil 1st Lane, located in Muthiyalpet village under the Sowcarpet SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Pidariyar Kovil 1st Lane has changed

The guideline value for Pidariyar Kovil 1st Lane has experienced several revisions over the years. In 2003, the value was Rs 898 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a rise of 34%. The value then saw a significant increase of 233% to reach Rs 4,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,680 per sq.ft in 2017. The value then surged by 49% to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there is no figure available for this street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 390%.

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. The median value is Rs 4,400 per sq.ft, making the guideline value of Pidariyar Kovil 1st Lane equal to this median.

• 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)
• Pethu Naicken Street (Park Town): Rs 13,000 per sq.ft (2024)
• Pethu Naicken Street (Kondithope): Rs 6,000 per sq.ft (2024)
• Perumal Mudali Street (Sowcarpet): Rs 13,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pidariyar Kovil 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, leading to a total cost of Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pidariyar Kovil 1st Lane?

The Sub Registrar Office that covers Pidariyar Kovil 1st Lane 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

When buying or selling property in Muthiyalpet, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. This value serves as a benchmark to ensure that the transaction is recorded at a fair value, reflective of the current market conditions.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial obligations during the property transaction process. Understanding these values helps in making informed decisions regarding property purchases and sales.

Frequently asked questions

What is the current guideline value of Pidariyar Kovil 1st Lane?

The current guideline value of Pidariyar Kovil 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 898 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 390%.

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 value for Pidariyar Kovil 1st Lane.

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Sub Registrar Office for Pidariyar Kovil 1st Lane located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, and it covers Pidariyar Kovil 1st Lane.