Guideline Value for Thanjai Murugappa Chetty Street

Thanjai Murugappa Chetty Street guideline value

The current guideline value of Thanjai Murugappa Chetty 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Thanjai Murugappa Chetty Street has changed

The guideline value for Thanjai Murugappa Chetty Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, this value decreased to Rs 2,680 per sq.ft in the 2017 revision, a drop of 33%. The subsequent 2023 revision saw another increase to Rs 4,000 per sq.ft, followed by a 10% rise to the current value of Rs 4,400 per sq.ft from 2024.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. 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 guideline value is Rs 4,400 per sq.ft, which is equal to the 2024 figure for Thanjai Murugappa Chetty Street. Below are the guideline values for other streets in Muthiyalpet:

• Thattha Muthiyappan Street: Rs 6,000 per sq.ft (2024)
• Thandavaraya Pillai Street: Rs 6,000 per sq.ft (2024)
• Thandavamurthi Street: Rs 4,400 per sq.ft (2024)
• Thanappa Chetty Street: Rs 4,400 per sq.ft (2024)
• Thambu Naicken Street: Rs 6,000 per sq.ft (2024)
• Theradi First Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thanjai Murugappa 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, 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanjai Murugappa Chetty Street?

The Sub Registrar Office that covers Thanjai Murugappa Chetty 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 when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs involved in the transaction. This ensures that both parties are aware of the financial implications of the sale or purchase.

Frequently asked questions

What is the current guideline value of Thanjai Murugappa Chetty Street?

The current guideline value of Thanjai Murugappa 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 significantly over the years, from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267%.

What is the median guideline value in Muthiyalpet?

The median guideline value for the 357 streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Thanjai Murugappa Chetty Street.

What are the stamp duty and registration fees for a property in Thanjai Murugappa Chetty Street?

The stamp duty for a property valued at Rs 44,00,000 would be Rs 3,08,000, with an additional registration fee of Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Thanjai Murugappa Chetty Street?

The registration for Thanjai Murugappa Chetty Street is handled by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.