Guideline Value for Amman Koil Street (Sowcarpet)

Amman Koil Street (Sowcarpet) guideline value

The current guideline value of Amman Koil Street (Sowcarpet) is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the jurisdiction of the Sowcarpet SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Amman Koil Street (Sowcarpet) has changed

The guideline value for Amman Koil Street has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012, marking a significant rise of 175%. However, from 2012 to 2017, there was a decrease to Rs 3,685 per sq.ft, a drop of 33%. The value then rose again to Rs 5,500 per sq.ft in 2023, showing a 49% increase. The latest revision in 2024 set the guideline value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that the guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

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 for these streets is Rs 4,400 per sq.ft, making the current guideline value for Amman Koil Street (Sowcarpet) above this median.

• Amman Koil Street (Kondithope): Rs 6,000 per sq.ft (2024)
• Amman Koil Street (Central Railway Station): Rs 5,500 per sq.ft (2024)
• Amman Pakoda Street: Rs 4,900 per sq.ft (2024)
• Amman Koil Lane: 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 Street (Sowcarpet)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost for these fees to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amman Koil Street (Sowcarpet)?

The Sub Registrar Office that covers Amman Koil Street (Sowcarpet) is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. 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 in property transactions in Muthiyalpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Amman Koil Street (Sowcarpet)?

The current guideline value of Amman Koil Street (Sowcarpet) is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would be Rs 5,40,000.

Which office handles registrations for Amman Koil Street (Sowcarpet)?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, manages registrations for Amman Koil Street (Sowcarpet).

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Amman Koil Street (Sowcarpet) being above this median at Rs 6,000 per sq.ft.