Guideline Value for Thiagaraya Pillai Lane

Thiagaraya Pillai Lane guideline value

The current guideline value of Thiagaraya Pillai Lane is Rs 4,900 per sq.ft. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - III.

How the guideline value of Thiagaraya Pillai Lane has changed

Over the years, the guideline value of Thiagaraya Pillai Lane has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 1,600 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 181%. However, by 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 4,900 per sq.ft, an increase of 9% from the previous year.

The changes in guideline values from 2017 to 2023 saw a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 206%. It is important to note that 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 that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Thiagaraya Pillai Lane's 2024 figure above this median.

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

Stamp duty and registration fee for property in Thiagaraya Pillai Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiagaraya Pillai Lane?

The Sub Registrar Office that covers Thiagaraya Pillai Lane 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 crucial factor during the registration process of property transactions in Muthiyalpet. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Thiagaraya Pillai Lane?

The current guideline value of Thiagaraya Pillai 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, showing an overall increase of 206% across the years.

What is the land classification for Thiagaraya Pillai Lane?

Thiagaraya Pillai Lane is classified as Residential Special Type - III, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 4,41,000.

Where is the Sub Registrar Office for Thiagaraya Pillai Lane located?

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