Guideline Value for Sakkarai Street

Sakkarai Street guideline value

The current guideline value of Sakkarai Street in Muthiyalpet village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sowcarpet SRO and is classified as Residential Class I Type - I.

How the guideline value of Sakkarai Street has changed

The guideline value for Sakkarai Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, followed by a decrease to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, which was then revised to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the jump from 2007 to 2012 was a substantial 233%. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, 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. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Sakkarai Street.

• Saint Xavier Street: Rs 8,800 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 Sakkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakkarai Street?

The Sub Registrar Office that covers Sakkarai 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 in the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sakkarai Street?

The current guideline value of Sakkarai Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various revisions in between, including a decrease from Rs 4,000 to Rs 2,680 per sq.ft from 2012 to 2017.

What is the registration office for Sakkarai Street?

The registration office for Sakkarai Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What fees are involved when buying property on Sakkarai Street?

When buying property on Sakkarai Street, the fees include a stamp duty of 7% on the guideline value and a registration fee of 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

What is the land classification for Sakkarai Street?

Sakkarai Street is classified as Residential Class I Type - I, which is important for understanding the zoning and usage regulations applicable to this area.