Guideline Value for Amarsingh Lala Street

Amarsingh Lala Street guideline value

The current guideline value of Amarsingh Lala Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO and is classified as Residential Class I Type - I.

How the guideline value of Amarsingh Lala Street has changed

The guideline value for Amarsingh Lala Street has seen several revisions over the years. The earliest recorded revision is from 2007, with a guideline value of Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, but then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value rose to Rs 4,000 per sq.ft in 2023 and further increased to Rs 4,400 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a notable 233%. Overall, from 2007 to 2024, the guideline value has increased by 267%. 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, which is the same as the current value for Amarsingh Lala Street.

• Amarsingh Lala Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Amarsingh Lala Street?

The Sub Registrar Office covering Amarsingh Lala Street 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 property registration in Muthiyalpet. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when transferring property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Amarsingh Lala Street?

The current guideline value of Amarsingh Lala Street 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 median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Amarsingh Lala Street.

What are the stamp duty rates for properties in Amarsingh Lala Street?

The stamp duty for properties in Amarsingh Lala Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Amarsingh Lala Street?

The Sowcarpet Sub Registrar Office, which covers Amarsingh Lala Street, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.