Guideline Value for Ammaiappan Lane

Ammaiappan Lane guideline value

The current guideline value of Ammaiappan Lane is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ammaiappan Lane has changed

The guideline value for Ammaiappan Lane has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 8,700 per sq.ft, reflecting a change of +9% from the previous year.

In summary, the guideline value for Ammaiappan Lane has seen an increase from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. This change aligns with the overall adjustments made in the Chennai Central Joint I SRO for various streets in the area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ammaiappan Lane's 2024 figure below this median.

• Ammaiappan Street: Rs 8,700 per sq.ft (2024)
• Ambujammal Street: Rs 14,300 per sq.ft (2024)
• Anbu Colony: Rs 6,100 per sq.ft (2024)
• Anbu Colony 1st Street: Rs 6,100 per sq.ft (2024)
• Anbu Colony 2nd Street: Rs 6,100 per sq.ft (2024)
• Alwarpet Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ammaiappan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, resulting in a total cost of Rs 7,83,000. 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 Ammaiappan Lane?

The Sub Registrar Office that covers Ammaiappan Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a critical role in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ammaiappan Lane?

The current guideline value of Ammaiappan Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ammaiappan Lane has increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Ammaiappan Lane?

Ammaiappan Lane is classified as Residential Class I Type - III under the Chennai Central Joint I SRO.

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

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ammaiappan Lane located?

The Sub Registrar Office for Ammaiappan Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.