Guideline Value for Thiagaraya Pillai Street

Thiagaraya Pillai Street guideline value

The current guideline value of Thiagaraya Pillai Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - III.

How the guideline value of Thiagaraya Pillai Street has changed

The guideline value for Thiagaraya Pillai Street has undergone several revisions over the years. In 2007, the value was Rs 1,600 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 181%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, representing a decline of 33%. The value then increased again to Rs 4,500 per sq.ft in 2023, showing a growth of 49% from the previous revision. The latest revision in 2024 has set the guideline value at Rs 4,900 per sq.ft, which is a 9% increase from 2023.

The register has no figure for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

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, with a median of Rs 4,400 per sq.ft. The guideline value of Thiagaraya Pillai Street is above this median.

• Thiagaraya Pillai Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total 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, bringing the total fees together to Rs 4,41,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Thiagaraya Pillai Street?

The Sub Registrar Office that covers Thiagaraya Pillai 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 in the registration process when buying or selling property in Muthiyalpet. It serves as a reference point for determining the stamp duty and registration fees payable at the time of property registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value of the property as set by the Registration Department. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thiagaraya Pillai Street?

The current guideline value of Thiagaraya Pillai Street 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 significantly from Rs 1,600 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with various increases and a decrease in between.

What is the land classification for Thiagaraya Pillai Street?

Thiagaraya Pillai Street is classified as Residential Special Type - III under the guidelines set by the Registration Department.

What are the stamp duty rates for properties in Muthiyalpet?

The stamp duty for properties in Muthiyalpet is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Which office handles registrations for Thiagaraya Pillai Street?

The Sowcarpet Sub Registrar Office handles registrations for Thiagaraya Pillai Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.