Guideline Value for Amberson Street

Amberson Street guideline value

The current guideline value of Amberson Street in Muthiyalpet village is Rs 8,800 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet SRO and is classified as Commercial Class I Type - II.

How the guideline value of Amberson Street has changed

The guideline value of Amberson Street has seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 2,238 per sq.ft. This increased to Rs 3,000 per sq.ft in 2007, marking a 34% rise. In 2012, the value was Rs 8,000 per sq.ft, which represented a significant 167% increase from the previous revision. However, in 2017, the value dropped to Rs 5,360 per sq.ft, reflecting a decrease of 33%. The 2023 revision set the value at Rs 8,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 293%. It is important to note that the register has no figure for Amberson Street for the year 2002.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 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 Amberson Street’s 2024 figure above this median.

• 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)
• Amarsingh Lala Street: Rs 4,400 per sq.ft (2024)
• Amarsingh Lala Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Amberson Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed estimates.

Which Sub Registrar Office covers Amberson Street?

The Sub Registrar Office that covers Amberson 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 when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Amberson Street?

The current guideline value of Amberson 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 significantly from Rs 2,238 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 293% over this period.

What is the land classification of Amberson Street?

Amberson Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Amberson Street's current value being above this median.

Where is the Sowcarpet Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, which handles the registration of properties in the area.