Guideline Value for Acharappan Lane

Acharappan Lane guideline value

The current guideline value of Acharappan Lane in Muthiyalpet village, under the Sowcarpet SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. This lane falls under the Commercial Class I Type - II land classification.

How the guideline value of Acharappan Lane has changed

The guideline value for Acharappan Lane has undergone several revisions over the years. The 2007 revision set the value at Rs 3,000 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012, marking a significant rise of 167%. However, the value then decreased to Rs 5,360 per sq.ft in 2017, a drop of 33%. The 2023 revision raised it to Rs 8,000 per sq.ft, followed by a further increase to Rs 8,800 per sq.ft in 2024, reflecting a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. Notably, there are no figures available for the revisions in 2002 and 2003 for Acharappan Lane.

Guideline values in Muthiyalpet

Muthiyalpet has 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft, and a median value of Rs 4,400 per sq.ft. Acharappan Lane's 2024 guideline value of Rs 8,800 per sq.ft is significantly above this median.

• Acharappan 2nd Lane: Rs 8,800 per sq.ft (2024)
• Acharappan Street: Rs 8,800 per sq.ft (2024)
• Acharappan 1st Lane: 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 Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Acharappan Lane?

Acharappan Lane is covered by 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 plays a crucial role in property transactions in Muthiyalpet. It is used as a benchmark for calculating stamp duty and registration fees when a property is sold or bought. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Acharappan Lane?

The current guideline value of Acharappan 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, reflecting an increase of 193% over the years.

What is the stamp duty rate for properties in Acharappan Lane?

The stamp duty rate for properties in Acharappan Lane is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in Acharappan Lane?

The Sowcarpet Sub Registrar Office is responsible for transactions in Acharappan Lane, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What are the guideline values of other streets in Muthiyalpet?

Other streets in Muthiyalpet have varying guideline values, with rates ranging from Rs 3,800 to Rs 16,500 per sq.ft. Acharappan Lane's value is notably above the median of Rs 4,400 per sq.ft.