Guideline Value for Acharappan 1st Lane

Acharappan 1st Lane guideline value

The current guideline value of Acharappan 1st Lane is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Commercial Class I Type - II.

How the guideline value of Acharappan 1st Lane has changed

The guideline value for Acharappan 1st Lane has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 3,000 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a 167% rise. However, in 2017, the value dropped to Rs 5,360 per sq.ft, reflecting a decrease of 33%. The value then increased again to Rs 8,000 per sq.ft in 2023, and currently stands at Rs 8,800 per sq.ft after a 10% increase in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Acharappan 1st Lane is above this median.

• Acharappan 2nd Lane: Rs 8,800 per sq.ft (2024)
• Acharappan Lane: Rs 8,800 per sq.ft (2024)
• Acharappan Street: Rs 8,800 per sq.ft (2024)
• Acker (Anger) Jason Street: Rs 4,400 per sq.ft (2024)
• Amarsingh Lala Lane: Rs 4,400 per sq.ft (2024)
• Amarsingh Lala Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Acharappan 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Acharappan 1st Lane?

The Sub Registrar Office that covers Acharappan 1st 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 in property transactions in Muthiyalpet, as it determines the minimum value at which properties can be registered. It is used by the registration department to assess the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, it is crucial to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure they are informed about the current guideline values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Acharappan 1st Lane?

The current guideline value of Acharappan 1st Lane is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 193% over the years.

What is the land classification of Acharappan 1st Lane?

Acharappan 1st Lane is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where is the Sowcarpet Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, and it handles registrations for properties in Acharappan 1st Lane.

How is stamp duty calculated for properties in Acharappan 1st Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 6,16,000.