Guideline Value for Sahib Hazarath Street

Sahib Hazarath Street guideline value

The current guideline value of Sahib Hazarath Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Sahib Hazarath Street has changed

The guideline value for Sahib Hazarath Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 1,298 per sq.ft. In 2007, this value increased significantly to Rs 1,600 per sq.ft, marking a 23% rise. The 2012 revision saw the value jump to Rs 4,500 per sq.ft, reflecting a substantial increase of 181%. However, in 2017, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The 2023 revision raised it to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, which is a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 278%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, which ranges from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, making Sahib Hazarath Street's 2024 figure above that median.

• Sadayappa Maistry Street: Rs 3,800 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 Sahib Hazarath Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Sahib Hazarath Street?

The Sub Registrar Office that covers Sahib Hazarath Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or bought.

When you register a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sahib Hazarath Street?

The current guideline value of Sahib Hazarath Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,298 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 278% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Sahib Hazarath Street's 2024 figure being above this median.

What are the stamp duty rates for properties in Sahib Hazarath Street?

The stamp duty rate for properties in Sahib Hazarath Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Sahib Hazarath Street?

The registration for Sahib Hazarath Street is handled by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.