Guideline Value for Seenu Aiyer Street

Seenu Aiyer Street guideline value

The current guideline value of Seenu Aiyer Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Seenu Aiyer Street has changed

The guideline value for Seenu Aiyer Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 4,400 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The increase from 2007 to 2012 was a decrease of 33%, while the rise from 2007 to 2012 was a substantial 233%. Overall, from 2007 to 2024, the guideline value has increased by 267%.

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 for Seenu Aiyer Street.

• Seenu Mudali Street: Rs 4,400 per sq.ft (2024)
• Seenivasa Aiyer Street: Rs 6,000 per sq.ft (2024)
• Seshan Street: Rs 4,900 per sq.ft (2024)
• Seven Wells Street: Rs 4,900 per sq.ft (2024)
• Saravana Mudali Street: Rs 4,400 per sq.ft (2024)
• Shanmuga Mudali Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Seenu Aiyer 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, bringing the total 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 use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Seenu Aiyer Street?

The Sub Registrar Office covering Seenu Aiyer Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. 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 in property transactions within Muthiyalpet. It serves as a benchmark for calculating stamp duty and registration fees when buying or selling property. The value is determined by the government and is subject to periodic revisions based on market conditions.

When registering a property, the guideline value helps ensure that the transaction is documented at a fair value, which is essential for both buyers and sellers. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Seenu Aiyer Street?

The current guideline value of Seenu Aiyer 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 in 2017 and significant increases in the years following.

What are the other streets in Muthiyalpet and their guideline values?

Other streets in Muthiyalpet include Seenu Mudali Street at Rs 4,400 per sq.ft, Seenivasa Aiyer Street at Rs 6,000 per sq.ft, and Seshan Street at Rs 4,900 per sq.ft, among others.

Where can I find the Sowcarpet Sub Registrar Office?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.

How is stamp duty calculated for properties in Seenu Aiyer Street?

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