Guideline Value for Thiruppalli Lane

Thiruppalli Lane guideline value

The current guideline value of Thiruppalli Lane, located in Muthiyalpet village under the Sowcarpet SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - III land classification.

How the guideline value of Thiruppalli Lane has changed

The guideline value for Thiruppalli Lane has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 2,500 per sq.ft. This value increased significantly to Rs 6,000 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 4,020 per sq.ft in 2017, which is a decline of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and finally, it reached Rs 6,600 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 164%. It is important to note that there are no figures available for the years 2002 and 2003 for Thiruppalli Lane in the register.

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, placing Thiruppalli Lane's 2024 figure above this median.

• Thiruppalli Street: Rs 6,600 per sq.ft (2024)
• Thiruneelakanda Nayanar Street: Rs 5,500 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 Thiruppalli Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total cost for these fees Rs 5,94,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruppalli Lane?

The Sub Registrar Office that covers Thiruppalli 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 an essential factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the registration fees and stamp duty applicable during the sale or purchase of properties.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Thiruppalli Lane?

The current guideline value of Thiruppalli Lane is Rs 6,600 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 2,500 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What are the guideline values of other streets in Muthiyalpet?

Other streets in Muthiyalpet have varying guideline values, with Thiruppalli Street also at Rs 6,600 per sq.ft, while Thiruneelakanda Nayanar Street is at Rs 5,500 per sq.ft.

What is the registration fee for property in Thiruppalli Lane?

The registration fee for property in Thiruppalli Lane is calculated based on the guideline value, which is currently Rs 6,600 per sq.ft. For a plot of 1,000 sq.ft, the registration fee would be Rs 1,32,000.

Where is the Sowcarpet SRO located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01. This office handles all property registrations for Thiruppalli Lane.