Guideline Value for Pidariyar Kovil 2nd Lane

Pidariyar Kovil 2nd Lane guideline value

The current guideline value of Pidariyar Kovil 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pidariyar Kovil 2nd Lane has changed

The guideline value for Pidariyar Kovil 2nd Lane has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 898 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 34%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting an increase of 233%. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The most recent revisions show an increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 390%. The register has no figure for this street in 2002.

Guideline values in Muthiyalpet

Muthiyalpet has a total of 357 streets under the Sowcarpet SRO, with the 2024 guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which is equal to the current value of Pidariyar Kovil 2nd Lane.

• Pidariyar Kovil 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Pidariyar Kovil 2nd Lane?

The Sub Registrar Office that covers Pidariyar Kovil 2nd Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. For more information, you can find your SRO.

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 transactions are conducted transparently and fairly.

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 government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Pidariyar Kovil 2nd Lane?

The current guideline value of Pidariyar Kovil 2nd Lane is Rs 4,400 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 898 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 390% over this period.

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 2nd 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 2nd Lane located?

The Sub Registrar Office for Pidariyar Kovil 2nd Lane is located at No.11, Davidson Street, Sowcarpet, Chennai-01.