Guideline Value for Sambaiyer Street

Sambaiyer Street guideline value

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

How the guideline value of Sambaiyer Street has changed

The guideline value for Sambaiyer Street has seen several revisions over the years. In 2003, the value was Rs 942 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. Following this, there was a significant rise to Rs 4,000 per sq.ft in 2012, but it then decreased to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 367%. Notably, the register has no figures for the year 2002 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 Sambaiyer Street.

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

Stamp duty and registration fee for property in Sambaiyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sambaiyer Street?

The Sambaiyer Street is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. To find your specific 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 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 state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the stamp duty and registration fees that need to be paid during the transaction process.

Frequently asked questions

What is the current guideline value of Sambaiyer Street?

The current guideline value of Sambaiyer 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 942 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 367% over this period.

What is the land classification for Sambaiyer Street?

Sambaiyer Street is classified under Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for Sambaiyer Street?

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

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.