Guideline Value for Sadayappa Maistry Street

Sadayappa Maistry Street guideline value

The current guideline value of Sadayappa Maistry Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO and is classified as Residential Class II Type - I.

How the guideline value of Sadayappa Maistry Street has changed

The guideline value of Sadayappa Maistry Street has seen significant changes over the years. In 2007, the guideline value was Rs 1,000 per sq.ft. It increased dramatically to Rs 3,500 per sq.ft in 2012, marking a 250% rise. However, by 2017, the value decreased to Rs 2,345 per sq.ft, representing a 33% drop. The value then rose again to Rs 3,500 per sq.ft in 2023, and most recently, it increased to Rs 3,800 per sq.ft in 2024, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 280%. The register has no figures for Sadayappa Maistry Street for the years 2002 and 2003.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Sadayappa Maistry Street's 2024 figure below that median.

• Sahib Hazarath Street: Rs 4,900 per sq.ft (2024)
• Saint Xavier Street: Rs 8,800 per sq.ft (2024)
• Sakkarai Street: Rs 4,400 per sq.ft (2024)
• Samayapurathamman Koil Street: Rs 3,800 per sq.ft (2024)
• Sambaiyer Street: Rs 4,400 per sq.ft (2024)
• Sami Maistry Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sadayappa Maistry Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sadayappa Maistry Street?

The Sub Registrar Office that covers Sadayappa Maistry Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is calculated based on the higher of the two. This ensures that the government collects the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sadayappa Maistry Street?

The current guideline value of Sadayappa Maistry Street is Rs 3,800 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 1,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 280% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Sadayappa Maistry Street's 2024 figure being below this median.

What fees are associated with buying property in Sadayappa Maistry Street?

When buying property, the stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sadayappa Maistry Street?

The Sub Registrar Office for Sadayappa Maistry Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.