Guideline Value for Thanappa Chetty Street

Thanappa Chetty Street guideline value

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

How the guideline value of Thanappa Chetty Street has changed

The guideline value for Thanappa Chetty Street has seen several revisions over the years. The earliest recorded revision in 2003 set the value at Rs 982 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a 22% rise. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a significant increase of 233%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. Following this, the value rose to Rs 4,000 per sq.ft in 2023, and finally, it reached Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 348%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have 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 the same as the 2024 figure for Thanappa Chetty Street.

• Thandavamurthi Street: Rs 4,400 per sq.ft (2024)
• Thambu Naicken Street: Rs 6,000 per sq.ft (2024)
• Thandavaraya Pillai Street: Rs 6,000 per sq.ft (2024)
• Thaiyappa Mudaly Street: Rs 4,400 per sq.ft (2024)
• Thaiyappa Mudaly Lane: Rs 4,400 per sq.ft (2024)
• Teynampet Ramasamy Mudaly Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thanappa Chetty 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, making the total fees 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 information.

Which Sub Registrar Office covers Thanappa Chetty Street?

The Sub Registrar Office that covers Thanappa Chetty Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Muthiyalpet

The guideline value plays a crucial role during property transactions in Muthiyalpet. It is utilized to determine the stamp duty and registration fees that need to be paid when buying or selling property. This value is essential for ensuring that both parties are aware of the financial obligations involved in the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is transparent and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thanappa Chetty Street?

The current guideline value of Thanappa Chetty 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 982 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting a significant increase of 348% over this period.

What are the stamp duty and registration fees for property in Thanappa Chetty Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Thanappa Chetty Street?

The Sowcarpet Sub Registrar Office at No.11, Davidson Street, Sowcarpet, Chennai-01, covers Thanappa Chetty Street.

What is the land classification for Thanappa Chetty Street?

Thanappa Chetty Street is classified as Residential Class I Type - I, indicating its suitability for residential development.