Guideline Value for Srinivasa Pillai Street

Srinivasa Pillai Street guideline value

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

How the guideline value of Srinivasa Pillai Street has changed

The guideline value for Srinivasa Pillai Street has seen several revisions over the years. In 2003, the guideline value was Rs 920 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 30% rise. The value then saw a significant jump to Rs 4,000 per sq.ft in 2012, representing a 233% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that the register has no figure for Srinivasa Pillai Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Muthiyalpet

Muthiyalpet has a total of 357 streets under the Sowcarpet SRO, with guideline values for 2024 ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Srinivasa Pillai Street.

• Stratan Muthaiya Mudali Street: Rs 6,000 per sq.ft (2024)
• Stringer Street (Broadway): Rs 8,800 per sq.ft (2024)
• Stringer Street (Walltax Road): Rs 6,000 per sq.ft (2024)
• Subbaraya Naicken Lane: Rs 6,600 per sq.ft (2024)
• Subbaraya Pillai Street: Rs 4,400 per sq.ft (2024)
• Subbu Chetty Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Pillai 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 at 7% would be 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 duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Pillai Street?

The Sub Registrar Office that covers Srinivasa Pillai 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 during property registration in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling a property. The guideline value ensures that the transaction is recorded at a fair value, as determined by the local government.

When a property is sold, the buyer and seller must refer to the guideline value to calculate the necessary fees. This helps maintain transparency in property transactions, ensuring that both parties are aware of the financial implications involved in the sale.

Frequently asked questions

What is the current guideline value of Srinivasa Pillai Street?

The current guideline value of Srinivasa Pillai 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 for Srinivasa Pillai Street has changed several times, from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 378% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srinivasa Pillai Street?

The Sub Registrar Office for Srinivasa Pillai Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What are the guideline values of other streets in Muthiyalpet?

Other streets in Muthiyalpet have varying guideline values, with rates ranging from Rs 3,800 to Rs 16,500 per sq.ft. For example, Stratan Muthaiya Mudali Street has a value of Rs 6,000 per sq.ft in 2024.