Guideline Value for Acharappan Street

Acharappan Street guideline value

The current guideline value of Acharappan Street 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 Street has changed

The guideline value for Acharappan Street has undergone several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking a rise of 167%. However, from 2012 to 2017, the value decreased to Rs 5,360 per sq.ft, a decline of 33%. The value then rose to Rs 8,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for Acharappan Street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

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 value for these streets is Rs 4,400 per sq.ft, placing Acharappan Street's 2024 figure above this median.

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

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, bringing the total fees together to 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Acharappan Street?

Acharappan Street falls under the jurisdiction of the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can 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 a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly influences the stamp duty and registration fees applicable to the transaction.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that all transactions comply with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Acharappan Street?

The current guideline value of Acharappan Street 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 overall increase of 193% over the years.

What are the other streets in Muthiyalpet and their guideline values?

Other streets in Muthiyalpet include Acharappan Lane, Acharappan 2nd Lane, and Acharappan 1st Lane, all valued at Rs 8,800 per sq.ft in 2024, among others with varying rates.

What are the stamp duty and registration fees for properties in Acharappan Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 88,00,000, the total fees would amount to Rs 7,92,000.

Which office handles property registrations for Acharappan Street?

The Sowcarpet Sub Registrar Office handles property registrations for Acharappan Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.