Guideline Value for Portugeese Church 5th Lane

Portugeese Church 5th Lane guideline value

The current guideline value of Portugeese Church 5th 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, classified as Residential Class I Type - I.

How the guideline value of Portugeese Church 5th Lane has changed

The guideline value for Portugeese Church 5th Lane has seen several revisions over the years. In 2003, the guideline value was Rs 999 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 20% rise. The value then jumped significantly to Rs 4,000 per sq.ft in 2012, reflecting a 233% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 4,400 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 340%. Notably, there is no figure available for the year 2002 in the register 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 of Portugeese Church 5th Lane.

• Portugeese Church 4th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street: Rs 6,000 per sq.ft (2024)
• Portugeese Church 3rd Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 6th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church 2nd Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 7th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Portugeese Church 5th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the guideline value totals 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, making the total Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Portugeese Church 5th Lane?

The Sub Registrar Office that covers Portugeese Church 5th Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for any additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to understand the financial implications of the registration process.

Frequently asked questions

What is the current guideline value of Portugeese Church 5th Lane?

The current guideline value of Portugeese Church 5th 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 the years.

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 5th Lane.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Portugeese Church 5th Lane is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Portugeese Church 5th Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.