Guideline Value for Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction)

Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction) guideline value

The current guideline value for Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction) is Rs 16,500 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction) has changed

The guideline value for Angappa Naicken Street has seen several revisions over the years. In 2007, the guideline value was Rs 5,500 per sq.ft, which increased significantly to Rs 15,000 per sq.ft in 2012, marking a rise of 173%. However, this value decreased to Rs 10,050 per sq.ft in 2017, reflecting a decline of 33%. The value then saw a substantial increase to Rs 15,000 per sq.ft in 2023, and further rose to Rs 16,500 per sq.ft in 2024, an increase of 10% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 200%, demonstrating significant changes over the years.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction) is above this median.

• Angappa Naicken street [ from Mannady street Junction to Ibrahim street Junction]: Rs 7,100 per sq.ft (2024)
• Angappa Naicken street[from N.S.C Bose Rd to Mookar Nallamuthu Street Junction]: Rs 16,500 per sq.ft (2024)
• Angappa Naicken street 2nd lane: Rs 5,500 per sq.ft (2024)
• Angappa Naicken street [from P.O street Junction to Mannady street Junction]: Rs 7,700 per sq.ft (2024)
• Angappa Naicken street 1st lane: Rs 5,500 per sq.ft (2024)
• Alwarchary lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction)

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value amounts to Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total fees to Rs 14,85,000. 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.

Which Sub Registrar Office covers Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction)?

The Sub Registrar Office that covers Angappa Naicken Street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthialpet. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value is considered the minimum value for registration purposes.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Angappa Naicken Street?

The current guideline value for Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction) is Rs 16,500 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 5,500 per sq.ft in 2007 to Rs 16,500 per sq.ft in 2024, reflecting an overall increase of 200% over the years.

What is the land classification for Angappa Naicken Street?

Angappa Naicken Street is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Angappa Naicken Street is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

How is the stamp duty calculated for properties in Muthialpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is essential to consider the guideline value when determining the total fees during property transactions.