Guideline Value for Portugeese Church Street

Portugeese Church Street guideline value

The current guideline value of Portugeese Church Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - I.

How the guideline value of Portugeese Church Street has changed

The guideline value for Portugeese Church Street has seen several revisions over the years. In 2003, the value was Rs 1,329 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007. Following that, the value surged to Rs 5,500 per sq.ft in 2012, but then dropped to Rs 3,685 per sq.ft in 2017. The 2023 revision marked a significant rise to Rs 5,500 per sq.ft, and the current value stands at Rs 6,000 per sq.ft from the 2024 revision.

Notably, there is no figure available for the year 2002 in the register for this street. The changes between the revisions are as follows: from 2003 to 2007, there was a 50% increase; from 2007 to 2012, the value rose by 175%; however, it decreased by 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows a 9% increase. Overall, from 2003 to 2024, the guideline value has risen by 351%.

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, with a median value of Rs 4,400 per sq.ft. Portugeese Church Street's 2024 guideline value of Rs 6,000 per sq.ft is above this median.

• Portugeese Church 5th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 6th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church 4th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 7th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church 3rd Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 8th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Portugeese Church Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Portugeese Church Street?

The Sub Registrar Office that covers Portugeese Church 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 when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. Buyers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Portugeese Church Street?

The current guideline value of Portugeese Church Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,329 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 351% over this period.

What is the land classification for Portugeese Church Street?

Portugeese Church Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Sowcarpet Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Portugeese Church Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 60,00,000 incurs a stamp duty of Rs 4,20,000 at a rate of 7%.