Guideline Value for Aadiyapadham street@Asaiyappan street

Aadiyapadham street@Asaiyappan street guideline value

The current guideline value of Aadiyapadham street@Asaiyappan street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Aadiyapadham street@Asaiyappan street has changed

The guideline value for Aadiyapadham street@Asaiyappan street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,232 per sq.ft. This increased to Rs 1,401 per sq.ft in 2003, marking a change of +14%. The value rose to Rs 1,500 per sq.ft in 2007, which was an increase of +7%. By 2012, the guideline value was Rs 4,500 per sq.ft, reflecting a significant increase of +200% from the previous revision. However, it then decreased to Rs 3,015 per sq.ft in 2017, showing a decline of -33%.

From 2017 to 2023, the guideline value saw a substantial increase to Rs 4,500 per sq.ft, representing a change of +49%. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, which is an increase of +9% from the previous year. The register has no figures for the years not mentioned in this summary.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Aadiyapadham street@Asaiyappan street below this median.

• Adam Street: Rs 5,500 per sq.ft (2024)
• Alwarchary lane: Rs 4,900 per sq.ft (2024)
• Angappa Naicken street 1st lane: Rs 5,500 per sq.ft (2024)
• Angappa Naicken street 2nd lane: Rs 5,500 per sq.ft (2024)
• Angappa Naicken street [ from Mannady street Junction to Ibrahim street Junction]: Rs 7,100 per sq.ft (2024)
• Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction): Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Aadiyapadham street@Asaiyappan 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 fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aadiyapadham street@Asaiyappan street?

The Aadiyapadham street@Asaiyappan street falls under the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

When buying or selling property in Muthialpet, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions in the area, ensuring that the transaction is registered at a fair value.

At the time of registration, the buyer must pay the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Aadiyapadham street@Asaiyappan street?

The current guideline value of Aadiyapadham street@Asaiyappan 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 from Rs 1,232 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of +298% over the years.

What is the median guideline value in Muthialpet?

The median guideline value in Muthialpet is Rs 5,500 per sq.ft for the 2024 revision, with Aadiyapadham street@Asaiyappan street being below this median.

What are the stamp duty rates applicable?

The stamp duty rate for property transactions is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Aadiyapadham street@Asaiyappan street located?

The Sub Registrar Office covering Aadiyapadham street@Asaiyappan street is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.