Guideline Value

Corporate

Guideline Value for Acharappan 2nd Lane

₹8800/sq.ft.

The guideline value for Acharappan 2nd Lane in Muthiyalpet village (Sowcarpet SRO, Chennai zone) is Rs 8800 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Muthiyalpet

Village

Sowcarpet

SRO

Commercial Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹8800 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5360 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹8000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3000 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.11, Davidson Street, Sowcarpet, Chennai-01
044-25228102
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Acharappan 2nd Lane

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Acharappan 2nd Lane guideline value

The current guideline value of Acharappan 2nd 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 2nd Lane has changed

The guideline value for Acharappan 2nd Lane has seen several revisions over the years. The 2007 revision listed the value at Rs 3,000 per sq.ft, which increased to Rs 8,000 per sq.ft in the 2012 revision, marking a significant rise of 167%. However, in the 2017 revision, the value dropped to Rs 5,360 per sq.ft, a decrease of 33%. The value then rose to Rs 8,000 per sq.ft in the 2023 revision, and finally, it increased to Rs 8,800 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Acharappan 2nd Lane's 2024 figure above this median.

Stamp duty and registration fee for property in Acharappan 2nd 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, bringing the total cost for these fees to Rs 7,92,000. 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 Acharappan 2nd Lane?

The Acharappan 2nd Lane is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, 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, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions. This value is regularly updated to reflect market conditions and ensure fair taxation.

Frequently asked questions

What is the current guideline value of Acharappan 2nd Lane?

The current guideline value of Acharappan 2nd Lane is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What are the stamp duty and registration fees for properties in Acharappan 2nd Lane?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000, and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where can I find the Sub Registrar Office for Acharappan 2nd Lane?

The Sowcarpet Sub Registrar Office, which covers Acharappan 2nd Lane, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value, which in turn influences the stamp duty and registration fees payable by buyers and sellers. It is essential for ensuring that the appropriate taxes are collected during property sales.