Guideline Value for Thiruppalli Street

Thiruppalli Street guideline value

The current guideline value of Thiruppalli Street in Muthiyalpet village is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sowcarpet Sub Registrar Office and is classified as Commercial Class I Type - III.

How the guideline value of Thiruppalli Street has changed

The guideline value of Thiruppalli Street has undergone several revisions over the years. The 2007 revision set the value at Rs 2,500 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, the value then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value saw a notable rise to Rs 6,000 per sq.ft in 2023, and it has now increased by 10% to Rs 6,600 per sq.ft in the 2024 revision.

In summary, from 2007 to 2024, the guideline value has increased by 164%. The revisions for the years 2002 and 2003 do not have any figures recorded for Thiruppalli Street in the register.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft as per the 2024 revision. The median guideline value in the village is Rs 4,400 per sq.ft, placing Thiruppalli Street's 2024 figure above this median.

• Thiruppalli Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruppalli Street?

The Thiruppalli Street is covered by 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 property registration in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the transaction process.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruppalli Street?

The current guideline value of Thiruppalli Street 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 increased from Rs 2,500 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking a total increase of 164% over the years.

What is the land classification for Thiruppalli Street?

Thiruppalli Street is classified as Commercial Class I Type - III under the land classification system.

Where can I find the Sowcarpet Sub Registrar Office?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in Thiruppalli Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at 7%.