Guideline Value for Thiyagarapillai Lane

Thiyagarapillai Lane guideline value

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

How the guideline value of Thiyagarapillai Lane has changed

The guideline value for Thiyagarapillai Lane has seen significant changes over the years. The earliest recorded figure is from 2003, which was Rs 1,100 per sq.ft. This increased to Rs 1,600 per sq.ft in 2007, marking a 45% rise. The value then jumped to Rs 4,500 per sq.ft in 2012, a substantial increase of 181%. However, it dropped to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently, it has increased to Rs 4,900 per sq.ft in 2024, a 9% rise.

It is important to note that there is no recorded guideline value for Thiyagarapillai Lane in 2002. Overall, from 2003 to 2024, the guideline value has increased by 345%.

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. The median guideline value for these streets is Rs 4,400 per sq.ft, positioning Thiyagarapillai Lane's 2024 figure above this median.

• Thulasingam Lane: Rs 4,400 per sq.ft (2024)
• Thulasingam Street: Rs 4,400 per sq.ft (2024)
• Thiruvengada Narayanan Street: Rs 4,900 per sq.ft (2024)
• Trivelan Basin South Street: Rs 6,000 per sq.ft (2024)
• Trivelan Basin Street: Rs 6,000 per sq.ft (2024)
• Thiruppalli Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiyagarapillai Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, charged at 7%, would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiyagarapillai Lane?

The Sub Registrar Office that covers Thiyagarapillai 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 a crucial factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum price at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiyagarapillai Lane?

The current guideline value of Thiyagarapillai Lane 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 increased from Rs 1,100 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 345% over this period.

What is the land classification for Thiyagarapillai Lane?

Thiyagarapillai Lane is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

What is the stamp duty rate for property transactions?

The stamp duty for property transactions in Thiyagarapillai Lane is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, and it handles registrations for Thiyagarapillai Lane.