Guideline Value for Presars Bridege Road

Presars Bridege Road guideline value

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

How the guideline value of Presars Bridege Road has changed

Over the years, the guideline value of Presars Bridege Road has seen several revisions. The 2007 revision recorded a guideline value of Rs 2,000 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012. However, the value dropped to Rs 3,685 per sq.ft in 2017. The subsequent revisions saw an increase, with the 2023 revision setting the value at Rs 5,500 per sq.ft, followed by the current 2024 revision that raised it to Rs 6,000 per sq.ft.

The changes between the revisions indicate a 175% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 200%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet village, 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. The guideline value of Presars Bridege Road is above this median.

• Portugeese Church Street 9th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 8th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 7th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street 6th Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church Street: Rs 6,000 per sq.ft (2024)
• Portugeese Church 5th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Presars Bridege Road

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, resulting in a total of 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.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Presars Bridege Road?

The Sub Registrar Office that covers Presars Bridege Road is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process of 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 through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value to avoid discrepancies during registration. The property cannot be registered for a value lower than the guideline value, which protects the interests of both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Presars Bridege Road?

The current guideline value of Presars Bridege Road 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 from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification of Presars Bridege Road?

Presars Bridege Road is classified as Residential Special Type - I, which indicates its suitability for residential purposes.

Where can I find the Sub Registrar Office for Presars Bridege Road?

The Sowcarpet Sub Registrar Office, which covers Presars Bridege Road, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is stamp duty calculated for property in Presars Bridege Road?

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