Guideline Value for Thattha Muthiyappan Street

Thattha Muthiyappan Street guideline value

The current guideline value of Thattha Muthiyappan Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO and is classified as Residential Special Type - I.

How the guideline value of Thattha Muthiyappan Street has changed

The guideline value for Thattha Muthiyappan Street has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012, marking a significant rise of 175%. However, from 2012 to 2017, there was a decline to Rs 3,685 per sq.ft, a drop of 33%. The value then increased to Rs 5,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Muthiyalpet

Muthiyalpet village has 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Thattha Muthiyappan Street above this median.

• Thanjai Murugappa Chetty Street: Rs 4,400 per sq.ft (2024)
• Theradi First Lane: Rs 4,900 per sq.ft (2024)
• Thiagaraya Pillai Lane: Rs 4,900 per sq.ft (2024)
• Thiagaraya Pillai Street: Rs 4,900 per sq.ft (2024)
• Thandavaraya Pillai Street: Rs 6,000 per sq.ft (2024)
• Thandavamurthi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thattha Muthiyappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, resulting in a total of Rs 5,40,000. 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 details.

Which Sub Registrar Office covers Thattha Muthiyappan Street?

The Sub Registrar Office that covers Thattha Muthiyappan Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the fees based on the higher value between the guideline and the sale price. This ensures that the appropriate taxes are collected according to the established values in the region.

Frequently asked questions

What is the current guideline value of Thattha Muthiyappan Street?

The current guideline value of Thattha Muthiyappan Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, representing an overall increase of 200% over the years.

What is the land classification for Thattha Muthiyappan Street?

Thattha Muthiyappan Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this street?

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

How is the stamp duty calculated for properties in Muthiyalpet?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 at 7%.