Guideline Value for Tesappan Adi-Dravidar Street

Tesappan Adi-Dravidar Street guideline value

The current guideline value of Tesappan Adi-Dravidar Street is Rs 3,800 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 II Type - I.

How the guideline value of Tesappan Adi-Dravidar Street has changed

Over the years, the guideline value of Tesappan Adi-Dravidar Street has seen significant changes. The 2003 revision set the value at Rs 797 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following that, the value rose dramatically to Rs 3,500 per sq.ft in 2012, but then dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision marked another increase to Rs 3,500 per sq.ft, and the most recent 2024 revision established the current value at Rs 3,800 per sq.ft.

The changes between revisions are notable: there was a 25% increase from 2003 to 2007, followed by a 250% rise from 2007 to 2012. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, a 9% increase was observed from 2023 to 2024. Overall, the guideline value has risen by 377% from 2003 to 2024.

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, with a median value of Rs 4,400 per sq.ft. Tesappan Adi-Dravidar Street's 2024 guideline value is below this median.

• Teynampet Ramasamy Mudaly Street: Rs 4,400 per sq.ft (2024)
• Thaiyappa Mudaly Lane: Rs 4,400 per sq.ft (2024)
• Thaiyappa Mudaly Street: Rs 4,400 per sq.ft (2024)
• Telegraph Abbai Naidu Street: Rs 4,900 per sq.ft (2024)
• Thambu Naicken Street: Rs 6,000 per sq.ft (2024)
• Thanappa Chetty Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Tesappan Adi-Dravidar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tesappan Adi-Dravidar Street?

The Sub Registrar Office that covers Tesappan Adi-Dravidar 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 critical factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating property sales to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. It is important for both parties to be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Tesappan Adi-Dravidar Street?

The current guideline value of Tesappan Adi-Dravidar Street is Rs 3,800 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 797 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 377% over this period.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft for the year 2024, with Tesappan Adi-Dravidar Street's value being below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where can I find the Sub Registrar Office for Tesappan Adi-Dravidar Street?

The Sub Registrar Office for Tesappan Adi-Dravidar Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.