Guideline Value for Thiruvengada Narayanan Street

Thiruvengada Narayanan Street guideline value

The current guideline value of Thiruvengada Narayanan Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Thiruvengada Narayanan Street has changed

The guideline value for Thiruvengada Narayanan Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 1,144 per sq.ft. This increased to Rs 1,600 per sq.ft in 2007, marking a significant rise of 40%. In 2012, the value adjusted to Rs 4,500 per sq.ft, which was a notable increase of 181%. However, in 2017, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 4,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 4,900 per sq.ft, an increase of 9%.

It is important to note that the register has no figure for Thiruvengada Narayanan Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 328%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a guideline value for 2024, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Thiruvengada Narayanan Street above this median.

• Thiyagarapillai Lane: Rs 4,900 per sq.ft (2024)
• Thulasingam Lane: Rs 4,400 per sq.ft (2024)
• Thulasingam Street: Rs 4,400 per sq.ft (2024)
• Thiruppalli Street: Rs 6,600 per sq.ft (2024)
• Thiruppalli Lane: Rs 6,600 per sq.ft (2024)
• Thiruneelakanda Nayanar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengada Narayanan 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 to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Thiruvengada Narayanan Street?

The Sub Registrar Office that covers Thiruvengada Narayanan Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which property can be registered. This value is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it ensures compliance with legal requirements and helps in the accurate assessment of taxes. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Thiruvengada Narayanan Street?

The current guideline value of Thiruvengada Narayanan 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 over the years, starting from Rs 1,144 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 328%.

What is the median guideline value of streets in Muthiyalpet?

The median guideline value of streets in Muthiyalpet is Rs 4,400 per sq.ft for the year 2024, with Thiruvengada Narayanan Street being above this median.

What are the stamp duty rates applicable in Thiruvengada Narayanan Street?

The stamp duty rate applicable is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thiruvengada Narayanan Street?

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