Guideline Value for Alwarchary lane

Alwarchary lane guideline value

The current guideline value of Alwarchary lane 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 Alwarchary lane has changed

Over the years, the guideline value of Alwarchary lane has seen significant changes. The earliest recorded revision was in 2002, with a guideline value of Rs 905 per sq.ft. This increased to Rs 1,029 per sq.ft in 2003, marking a 14% rise. The value then continued to rise, reaching Rs 1,500 per sq.ft in 2007, which was a substantial increase of 46% from the previous revision. However, the value saw a sharp decline to Rs 4,500 per sq.ft in 2012, a decrease of 33% from 2007.

After the 2012 revision, the guideline value remained at Rs 4,500 per sq.ft until it increased to Rs 3,015 per sq.ft in 2017, reflecting a 49% rise. The most recent revision in 2023 set the value at Rs 4,500 per sq.ft, which was then raised to Rs 4,900 per sq.ft in 2024, representing a 9% increase. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with guideline values 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, which places Alwarchary lane's current value below this median.

• Adam Street: Rs 5,500 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)
• Angappa Naicken street[from N.S.C Bose Rd to Mookar Nallamuthu Street Junction]: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Alwarchary lane

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 to Rs 4,41,000. Please 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 information.

Which Sub Registrar Office covers Alwarchary lane?

The Sub Registrar Office that covers Alwarchary lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Muthialpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, both the buyer and seller must consider the guideline value, as it impacts the overall cost of the transaction. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Alwarchary lane?

The current guideline value of Alwarchary lane 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 multiple times, starting from Rs 905 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 441% over the years.

What is the land classification for Alwarchary lane?

Alwarchary lane is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Alwarchary lane is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Alwarchary lane?

The Sub Registrar Office covering Alwarchary lane is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find more information by visiting the relevant link.