Guideline Value for Amarsingh Lala Lane

Amarsingh Lala Lane guideline value

The current guideline value of Amarsingh Lala Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This lane is located in Muthiyalpet village, under the Sowcarpet Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Amarsingh Lala Lane has changed

Over the years, the guideline value of Amarsingh Lala Lane has seen several revisions. The earliest recorded revision in 2007 set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% rise. However, this value dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The value then surged to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in 2024, a 10% increase from the previous year.

The revisions for the years 2002 and 2003 have no figures recorded for Amarsingh Lala Lane. From the 2017 revision to the 2023 revision, the guideline value increased by 49%, showcasing significant changes in the property landscape over the years.

Guideline values in Muthiyalpet

Muthiyalpet village comprises 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Amarsingh Lala Lane.

• Amarsingh Lala Street: Rs 4,400 per sq.ft (2024)
• Amberson Street: Rs 8,800 per sq.ft (2024)
• Amman Koil Lane: Rs 4,900 per sq.ft (2024)
• Amman Koil Street (Central Railway Station): Rs 5,500 per sq.ft (2024)
• Amman Koil Street (Kondithope): Rs 6,000 per sq.ft (2024)
• Amman Koil Street (Sowcarpet): Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Amarsingh Lala Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. 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 Amarsingh Lala Lane?

The Sub Registrar Office that covers Amarsingh Lala 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 a crucial factor during the registration of properties in Muthiyalpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the financial aspects of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Amarsingh Lala Lane?

The current guideline value of Amarsingh Lala Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Amarsingh Lala Lane?

The land classification for Amarsingh Lala Lane is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Amarsingh Lala Lane?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office handles registrations for Amarsingh Lala Lane?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles registrations for Amarsingh Lala Lane.