Guideline Value for Angappa Naicken street 2nd lane

Angappa Naicken street 2nd lane guideline value

The current guideline value of Angappa Naicken street 2nd lane is Rs 5,500 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 area is Residential Class II Type - I.

How the guideline value of Angappa Naicken street 2nd lane has changed

The guideline value for Angappa Naicken street 2nd lane has seen several revisions over the years. In 2002, the value was Rs 1,485 per sq.ft, which increased to Rs 1,029 per sq.ft in 2003. The value then rose significantly to Rs 2,000 per sq.ft in 2007, followed by a notable jump to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value increased again to Rs 5,000 per sq.ft in 2023, culminating in the current figure of Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, the increase was 49%, while the jump from 2023 to 2024 was 10%. The period from 2007 to 2012 saw a 150% increase, and from 2003 to 2007, there was a 94% rise. Overall, from 2002 to 2024, the guideline value has increased by 270%. There are no figures available for revisions in years other than those mentioned.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current guideline value of Angappa Naicken street 2nd lane.

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

Stamp duty and registration fee for property in Angappa Naicken street 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total fees would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Angappa Naicken street 2nd lane?

The Sub Registrar Office that covers Angappa Naicken street 2nd lane 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 information.

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

The guideline value is a crucial factor during property transactions in Muthialpet. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value as it influences the overall cost of property registration. Ensuring that the property is registered at or above the guideline value helps in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Angappa Naicken street 2nd lane?

The current guideline value of Angappa Naicken street 2nd lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,485 per sq.ft in 2002 and reaching Rs 5,500 per sq.ft in 2024. There have been various increases and decreases throughout the years.

What is the land classification for Angappa Naicken street 2nd lane?

The land classification for Angappa Naicken street 2nd lane is Residential Class II Type - I.

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

The Sub Registrar Office for Angappa Naicken street 2nd lane is the Chennai North Joint I Sub Registrar Office, located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

How is stamp duty calculated for properties in Angappa Naicken street 2nd lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.