Guideline Value for Pidariyar Kovil Street

Pidariyar Kovil Street guideline value

The current guideline value of Pidariyar Kovil Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Commercial Class I Type - II.

How the guideline value of Pidariyar Kovil Street has changed

The guideline value for Pidariyar Kovil Street has seen several revisions over the years. In 2003, the value was Rs 2,304 per sq.ft, which increased to Rs 3,000 per sq.ft in 2007, marking a 30% rise. The value then jumped significantly to Rs 8,000 per sq.ft in 2012, reflecting a 167% increase. However, it decreased to Rs 5,360 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,800 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 282%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has 357 streets under the Sowcarpet SRO, with 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, placing Pidariyar Kovil Street's 2024 figure above that median.

• Pidariyar Kovil Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil 2nd Lane: Rs 4,400 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Pidariyar Kovil Street?

The Sub Registrar Office that covers Pidariyar Kovil Street 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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is updated periodically based on various factors.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately. It serves as a reference point for both buyers and sellers, providing clarity on the expected costs associated with the property transfer.

Frequently asked questions

What is the current guideline value of Pidariyar Kovil Street?

The current guideline value of Pidariyar Kovil Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 2,304 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, reflecting a significant overall increase of 282% over this period.

Where can I find the Sub Registrar Office for Pidariyar Kovil Street?

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

What are the stamp duty and registration fees for property in Pidariyar Kovil Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Pidariyar Kovil Street's 2024 figure of Rs 8,800 per sq.ft being above this median.