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Guideline Value

Corporate

Guideline Value for Portugeese Church 1st Lane

₹4400/sq.ft.

The guideline value for Portugeese Church 1st Lane in Muthiyalpet village (Sowcarpet SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Muthiyalpet

Village

Sowcarpet

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹999 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.11, Davidson Street, Sowcarpet, Chennai-01
044-25228102
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Portugeese Church 1st Lane

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Portugeese Church 1st Lane guideline value

The current guideline value for Portugeese Church 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Portugeese Church 1st Lane has changed

The guideline value for Portugeese Church 1st Lane has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 999 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, followed by a significant jump to Rs 4,000 per sq.ft in 2012. However, the value decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 4,000 per sq.ft, and the most recent 2024 revision has set it at Rs 4,400 per sq.ft.

In terms of percentage changes, the value increased by 20% from 2003 to 2007, followed by a remarkable increase of 233% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value surged by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 340%. There is no figure available for the 2002 revision for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry 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, which is equal to the guideline value for Portugeese Church 1st Lane.

Stamp duty and registration fee for property in Portugeese Church 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, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Portugeese Church 1st Lane?

The Sub Registrar Office that covers Portugeese Church 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

The guideline value is a crucial factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. It is essential to consider the guideline value when negotiating sale prices to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value for Portugeese Church 1st Lane?

The current guideline value for Portugeese Church 1st 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 several times, with the most recent increase of 10% from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024.

What is the land classification for Portugeese Church 1st Lane?

The land classification for Portugeese Church 1st Lane is Residential Class I Type - I.

Where can I find the Sowcarpet Sub Registrar Office?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.