Guideline Value for Seenivasa Aiyer Street

Seenivasa Aiyer Street guideline value

The current guideline value of Seenivasa Aiyer Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Seenivasa Aiyer Street has changed

The guideline value for Seenivasa Aiyer Street has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 175%. However, this value decreased to Rs 3,685 per sq.ft in 2017, a drop of 33%. The value then surged to Rs 5,500 per sq.ft in 2023, reflecting a 49% increase before reaching the current rate of Rs 6,000 per sq.ft in 2024, which is a 9% rise from the previous year.

There are no figures available for Seenivasa Aiyer Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft as per the 2024 revision. The median value for these streets is Rs 4,400 per sq.ft, placing Seenivasa Aiyer Street's 2024 figure above this median.

• Seenu Aiyer Street: Rs 4,400 per sq.ft (2024)
• Seenu Mudali Street: Rs 4,400 per sq.ft (2024)
• Seshan Street: Rs 4,900 per sq.ft (2024)
• Saravana Mudali Street: Rs 4,400 per sq.ft (2024)
• Seven Wells Street: Rs 4,900 per sq.ft (2024)
• Shanmuga Mudali Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Seenivasa Aiyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees together to Rs 5,40,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seenivasa Aiyer Street?

The Sub Registrar Office that covers Seenivasa Aiyer 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 plays a crucial role in property transactions in Muthiyalpet. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

During the registration of property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seenivasa Aiyer Street?

The current guideline value of Seenivasa Aiyer Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 200% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value for the 357 streets in Muthiyalpet is Rs 4,400 per sq.ft as per the 2024 revision.

What are the stamp duty and registration fees for property in Seenivasa Aiyer Street?

For a property with a guideline value of Rs 60,00,000, the stamp duty is Rs 4,20,000 and the registration fee is Rs 1,20,000, totaling Rs 5,40,000.

Where can I find the Sub Registrar Office for Seenivasa Aiyer Street?

The Sowcarpet Sub Registrar Office covers Seenivasa Aiyer Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.