Guideline Value for Amman Koil Lane

Amman Koil Lane guideline value

The current guideline value of Amman Koil Lane in Muthiyalpet village is Rs 4,900 per sq.ft, effective from 1 July 2024. This area falls under the Sowcarpet SRO and is classified as Residential Special Type - III.

How the guideline value of Amman Koil Lane has changed

The guideline value for Amman Koil Lane has seen several revisions over the years. In 2007, the value was Rs 1,600 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this figure dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision raised the value to Rs 4,500 per sq.ft, and the latest revision in 2024 set it at Rs 4,900 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a substantial increase of 49%. The jump from 2023 to 2024 is 9%. Overall, from 2007 to 2024, the guideline value has increased by 206%, reflecting significant changes over the years.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with 2024 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 Amman Koil Lane's 2024 figure above this median.

• 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)
• Amman Pakoda Street: Rs 4,900 per sq.ft (2024)
• Anaikara Godown Street: Rs 4,400 per sq.ft (2024)
• Amberson Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil 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, making the total fees Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amman Koil Lane?

The Sub Registrar Office that covers Amman Koil Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared with the sale price to determine the applicable fees. The higher amount is used to calculate the stamp duty, ensuring that the transaction adheres to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Amman Koil Lane?

The current guideline value of Amman Koil 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 significantly from Rs 1,600 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 206% over this period.

What are the stamp duty rates for properties in Amman Koil Lane?

The stamp duty for properties in Amman Koil Lane is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Amman Koil Lane?

The Sowcarpet Sub Registrar Office covers Amman Koil Lane and is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What are the guideline values for other streets in Muthiyalpet?

Other streets in Muthiyalpet have varying guideline values, with figures ranging from Rs 3,800 to Rs 16,500 per sq.ft. Amman Koil Lane's value is above the median of Rs 4,400 per sq.ft for the area.