Guideline Value for Portugeese Church 2nd Lane

Portugeese Church 2nd Lane guideline value

The current guideline value for Portugeese Church 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, classified as Residential Class I Type - I.

How the guideline value of Portugeese Church 2nd Lane has changed

The guideline value for Portugeese Church 2nd Lane has seen several revisions over the years. In 2003, the value was Rs 999 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. Following that, the value rose significantly to Rs 4,000 per sq.ft in 2012, but then dropped to Rs 2,680 per sq.ft in 2017. The upward trend resumed with a value of Rs 4,000 per sq.ft in 2023, culminating in the current rate of Rs 4,400 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 340%. The register does not provide a figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with 2024 guideline values 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 current guideline value for Portugeese Church 2nd Lane.

• Portugeese Church 1st Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church 3rd Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church 4th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church 5th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street: Rs 6,000 per sq.ft (2024)
• Portugeese Church Street 6th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Portugeese Church 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, and the registration fee at 2% would be Rs 88,000, bringing the total to 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Portugeese Church 2nd Lane?

The Sub Registrar Office that covers Portugeese Church 2nd Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for further assistance.

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 reference point for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently.

When buyers and sellers agree on a sale price, the registration office will charge stamp duty based on the higher of the guideline value or the agreed sale price. This ensures that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value for Portugeese Church 2nd Lane?

The current guideline value for Portugeese Church 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 from Rs 999 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 340% 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 guideline value for Portugeese Church 2nd Lane.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Where can I find the Sub Registrar Office for Portugeese Church 2nd Lane?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO through the provided link.