Guideline Value for Anderson Street

Anderson Street guideline value

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

How the guideline value of Anderson Street has changed

The guideline value for Anderson Street has seen several revisions over the years. The earliest recorded figure is Rs 2,614 per sq.ft from the 2003 revision. This increased to Rs 3,000 per sq.ft in 2007, marking a rise of 15%. In 2012, the value was Rs 8,000 per sq.ft, reflecting a significant increase of 167%. However, in 2017, it decreased to Rs 5,360 per sq.ft, a drop of 33%. The value then rose to Rs 8,000 per sq.ft in 2023, and currently stands at Rs 8,800 per sq.ft from the 2024 revision, marking a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 237%. Notably, there is no figure available for Anderson Street in the 2002 revision.

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, placing Anderson Street's 2024 figure above this median.

• Andiappa Naicken Street: Rs 6,000 per sq.ft (2024)
• Anjaneyar Koil Street: Rs 4,900 per sq.ft (2024)
• Anaikara Godown Street: Rs 4,400 per sq.ft (2024)
• Amman Pakoda Street: Rs 4,900 per sq.ft (2024)
• Amman Koil Street (Sowcarpet): Rs 6,000 per sq.ft (2024)
• Amman Koil Street (Kondithope): Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Anderson Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to 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 or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Anderson Street?

The Sub Registrar Office that covers Anderson Street 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 an essential factor in the registration process when buying or selling property in Muthiyalpet. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue based on the property's value.

When a property is registered, the guideline value serves as a benchmark for the transaction price. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Anderson Street?

The current guideline value of Anderson 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 2,614 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 237% over this period.

What are the other streets in Muthiyalpet and their guideline values?

Other streets in Muthiyalpet include Andiappa Naicken Street at Rs 6,000 per sq.ft, Anjaneyar Koil Street at Rs 4,900 per sq.ft, and Anaikara Godown Street at Rs 4,400 per sq.ft, among others.

What is the stamp duty for buying property in Anderson Street?

The stamp duty for a property in Anderson Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 6,16,000.

Where can I find the Sub Registrar Office for Anderson Street?

The Sub Registrar Office for Anderson Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01. This office handles all registrations for properties in the area.