Guideline Value for Pidariyar Kovil Lane

Pidariyar Kovil Lane guideline value

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

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

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

Guideline values in Muthiyalpet

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

• Pidariyar Kovil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil Street: Rs 8,800 per sq.ft (2024)
• Pidariyar Kovil 1st Lane: Rs 4,400 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 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, making the total 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pidariyar Kovil Lane?

The Sub Registrar Office that covers Pidariyar Kovil Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pidariyar Kovil Lane?

The current guideline value of Pidariyar Kovil 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 from Rs 898 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 390% over the years.

What is the stamp duty rate for properties in Pidariyar Kovil Lane?

The stamp duty rate for properties in Pidariyar Kovil Lane is 7%, which is calculated on the higher of the guideline value or the sale price.

Which office handles property registrations for Pidariyar Kovil Lane?

The Sowcarpet Sub Registrar Office handles property registrations for Pidariyar Kovil Lane, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the median guideline value for streets in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Pidariyar Kovil Lane.