Guideline Value for Thiruneelakanda Nayanar Street

Thiruneelakanda Nayanar Street guideline value

The current guideline value of Thiruneelakanda Nayanar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO, classified as Residential Special Type - II.

How the guideline value of Thiruneelakanda Nayanar Street has changed

The guideline value for Thiruneelakanda Nayanar Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 1,496 per sq.ft. It increased to Rs 1,700 per sq.ft in 2007, marking a 14% rise. In 2012, the value was revised to Rs 5,000 per sq.ft, showing a significant increase of 194%. However, the 2017 revision saw a decrease to Rs 3,350 per sq.ft, which was a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 268%. It is important to note that the register has no figure for Thiruneelakanda Nayanar Street for the year 2002.

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 value for these streets is Rs 4,400 per sq.ft, and Thiruneelakanda Nayanar Street's 2024 figure is above this median.

• Thiruppalli Lane: Rs 6,600 per sq.ft (2024)
• Thiruppalli Street: Rs 6,600 per sq.ft (2024)
• Thirumalai Lane: Rs 3,800 per sq.ft (2024)
• Thiagaraya Pillai Street: Rs 4,900 per sq.ft (2024)
• Thiagaraya Pillai Lane: Rs 4,900 per sq.ft (2024)
• Theradi First Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruneelakanda Nayanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruneelakanda Nayanar Street?

The Sub Registrar Office that covers Thiruneelakanda Nayanar Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the expected costs involved in the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thiruneelakanda Nayanar Street?

The current guideline value of Thiruneelakanda Nayanar Street is Rs 5,500 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 1,496 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 268%.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Thiruneelakanda Nayanar Street's 2024 value being above this median.

What are the stamp duty and registration fees for properties in Thiruneelakanda Nayanar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000, leading to a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Thiruneelakanda Nayanar Street?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles registrations for Thiruneelakanda Nayanar Street.