Guideline Value for Stringer Street (Broadway)

Stringer Street (Broadway) guideline value

The current guideline value of Stringer Street (Broadway) is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Stringer Street (Broadway) has changed

Over the years, the guideline value of Stringer Street (Broadway) has seen significant changes. In 2007, the value was Rs 3,000 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012, marking a substantial rise of 167%. However, by 2017, the value dropped to Rs 5,360 per sq.ft, reflecting a decrease of 33%. The guideline value then rose again to Rs 8,000 per sq.ft in 2023, followed by a further increase to Rs 8,800 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, there has been a significant increase of 193%. It is important to note that the register does not have figures for the revisions in 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Stringer Street (Broadway) above this median.

• Stringer Street (Walltax Road): Rs 6,000 per sq.ft (2024)
• Stratan Muthaiya Mudali Street: 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)
• Subramani Chetty Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Stringer Street (Broadway)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty, charged at 7%, would be Rs 6,16,000, while the registration fee at 2% amounts to Rs 1,76,000. Together, the total fees would be Rs 7,92,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Stringer Street (Broadway)?

The Sub Registrar Office that covers Stringer Street (Broadway) 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 the registration process of property transactions in Muthiyalpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are aligned with the established values for the area.

When buying or selling property, the guideline value is used to determine the minimum value at which the property can be registered. This ensures that all transactions are conducted fairly and transparently, reflecting the official valuation of the property.

Frequently asked questions

What is the current guideline value of Stringer Street (Broadway)?

The current guideline value of Stringer Street (Broadway) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles registrations for Stringer Street (Broadway)?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles registrations for Stringer Street (Broadway).

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is below the guideline value of Stringer Street (Broadway).