Guideline Value for Post Office Street ( From National Hotel To Thambu Chetty Street Junction)

Post Office street ( from National Hotel to Thambu Chetty street Junction) guideline value

The current guideline value of Post Office street ( from National Hotel to Thambu Chetty street Junction) is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Post Office street ( from National Hotel to Thambu Chetty street Junction) has changed

The guideline value for Post Office street has seen several revisions over the years. In 2007, the value was Rs 2,300 per sq.ft. This increased significantly by 183% to Rs 6,500 per sq.ft in 2012. However, the value then decreased by 33% to Rs 4,355 per sq.ft in 2017. Following this, there was a substantial increase of 49%, bringing the value to Rs 6,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, marking a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 209%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Post Office street ( from National Hotel to Thambu Chetty street Junction) above this median.

• Post Office street ( from Thambu Chetty street Junction to Sembu Doss street): Rs 7,100 per sq.ft (2024)
• Prakasam Salai [Broadway]: Rs 16,500 per sq.ft (2024)
• Prakasam Salai (Broadway) 1st lane: Rs 8,200 per sq.ft (2024)
• Prakasam Salai (Broadway) 2nd lane: Rs 8,200 per sq.ft (2024)
• Phopams broadway: Rs 16,500 per sq.ft (2024)
• Philips street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Post Office street ( from National Hotel to Thambu Chetty street Junction)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Post Office street ( from National Hotel to Thambu Chetty street Junction)?

The Sub Registrar Office that covers Post Office street ( from National Hotel to Thambu Chetty street Junction) is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value for Post Office street ( from National Hotel to Thambu Chetty street Junction)?

The current guideline value for Post Office street ( from National Hotel to Thambu Chetty street Junction) is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for Post Office street?

The guideline value for Post Office street has changed from Rs 2,300 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 209% over the years.

What is the land classification for Post Office street?

Post Office street falls under the land classification of Residential Class I Type - II.

Where can I find the Sub Registrar Office for Post Office street?

The Sub Registrar Office covering Post Office street is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What are the stamp duty rates for property transactions in Muthialpet?

The stamp duty for property transactions in Muthialpet is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value or sale price.