Guideline Value for Saint Xavier Street

Saint Xavier Street guideline value

The current guideline value of Saint Xavier Street in Muthiyalpet village, under the Sowcarpet SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of Saint Xavier Street has changed

The guideline value of Saint Xavier Street has undergone several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 1,110 per sq.ft. This value saw significant increases in subsequent years, with the 2007 revision reflecting a rise to Rs 3,000 per sq.ft, marking a 170% increase from 2003. By 2012, the value increased to Rs 8,000 per sq.ft, a substantial jump of 167% from the previous revision. However, in 2017, it dropped to Rs 5,360 per sq.ft, reflecting a decrease of 33% from the 2012 figure. The 2023 revision then saw a rise to Rs 8,000 per sq.ft, a notable increase of 49% from 2017, before reaching the current value of Rs 8,800 per sq.ft in 2024, which is a 10% increase from 2023.

It is important to note that there is no figure available for Saint Xavier Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 693%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have 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 the 2024 figure for Saint Xavier Street above this median.

• Sakkarai Street: Rs 4,400 per sq.ft (2024)
• Sahib Hazarath Street: Rs 4,900 per sq.ft (2024)
• Sadayappa Maistry Street: Rs 3,800 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 Saint Xavier Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost for these fees Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saint Xavier Street?

The Sub Registrar Office that covers Saint Xavier 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 buying or selling property in Muthiyalpet. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that the guideline value can impact the overall cost of transactions.

When registering a property, the guideline value serves as a baseline for calculating various fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Saint Xavier Street?

The current guideline value of Saint Xavier Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,110 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 693% over the years.

What is the land classification of Saint Xavier Street?

Saint Xavier Street is classified as Commercial Class I Type - II under the land classification regulations.

Where can I find the Sub Registrar Office for Saint Xavier Street?

The Sub Registrar Office for Saint Xavier Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000.