Guideline Value for Andiappa Naicken Street

Andiappa Naicken Street guideline value

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

How the guideline value of Andiappa Naicken Street has changed

The guideline value for Andiappa Naicken Street has seen several revisions over the years. In 2003, the value was Rs 1,285 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007. The value then rose significantly to Rs 5,500 per sq.ft in 2012, followed by a decrease to Rs 3,685 per sq.ft in 2017. By 2023, the value had increased to Rs 5,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 6,000 per sq.ft.

Changes between these revisions include an increase of 56% from 2003 to 2007, followed by a 175% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023 and by 9% from 2023 to 2024. The register has no figure for the year 2002 for this street.

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, with a median value of Rs 4,400 per sq.ft. The guideline value for Andiappa Naicken Street is above this median.

• Anderson Street: Rs 8,800 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 Andiappa Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total fees 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.

You can use the stamp duty and registration fee calculator for more information on calculating these fees.

Which Sub Registrar Office covers Andiappa Naicken Street?

The Sub Registrar Office that covers Andiappa Naicken 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 a crucial factor when registering property in Muthiyalpet, as it determines the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

Additionally, the guideline value serves as a benchmark for property transactions in the area, influencing the overall financial aspects of buying or selling property. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Andiappa Naicken Street?

The current guideline value of Andiappa Naicken Street 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 1,285 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Andiappa Naicken Street?

The land classification for Andiappa Naicken Street is Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Sowcarpet Sub Registrar Office?

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

How is stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 60,00,000, the stamp duty at 7% would be Rs 4,20,000.