Guideline Value for Theradi First Lane

Theradi First Lane guideline value

The current guideline value of Theradi First Lane is Rs 4,900 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 - III.

How the guideline value of Theradi First Lane has changed

The guideline value for Theradi First Lane has seen significant changes over the years. In the 2007 revision, the value was Rs 1,600 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017 before rising again to Rs 4,500 per sq.ft in 2023. The current value of Rs 4,900 per sq.ft reflects a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with 2024 guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for the village is Rs 4,400 per sq.ft, placing Theradi First Lane's 2024 figure above that median.

• Thiagaraya Pillai Lane: Rs 4,900 per sq.ft (2024)
• Thiagaraya Pillai Street: Rs 4,900 per sq.ft (2024)
• Thattha Muthiyappan Street: Rs 6,000 per sq.ft (2024)
• Thanjai Murugappa Chetty Street: Rs 4,400 per sq.ft (2024)
• Thirumalai Lane: Rs 3,800 per sq.ft (2024)
• Thandavaraya Pillai Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Theradi First Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. 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 further calculations.

Which Sub Registrar Office covers Theradi First Lane?

The Sub Registrar Office that covers Theradi First Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Muthiyalpet. It determines the minimum price at which a property can be registered, ensuring that the transaction is transparent and adheres to government regulations.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and in accordance with the established property values in the area.

Frequently asked questions

What is the current guideline value of Theradi First Lane?

The current guideline value of Theradi First Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting a 206% increase over the years.

What are the other streets in Muthiyalpet with their guideline values?

Other streets in Muthiyalpet include Thiagaraya Pillai Lane, Thiagaraya Pillai Street, Thattha Muthiyappan Street, Thanjai Murugappa Chetty Street, Thirumalai Lane, and Thandavaraya Pillai Street, with values ranging from Rs 3,800 to Rs 6,000 per sq.ft in 2024.

What is the stamp duty rate for properties in Theradi First Lane?

The stamp duty rate for properties in Theradi First Lane is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Theradi First Lane?

The Sowcarpet Sub Registrar Office, which covers Theradi First Lane, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.