Guideline Value for Annamalai Chetty Street

Annamalai Chetty Street guideline value

The current guideline value of Annamalai Chetty Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Annamalai Chetty Street has changed

The guideline value for Annamalai Chetty Street has undergone several revisions over the years. The earliest recorded revision was in 2003, where the guideline value was Rs 920 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 30%. The value then jumped to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 233%. However, there was a decrease to Rs 2,680 per sq.ft in 2017, showing a decline of 33%. The value further increased to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no recorded figure for Annamalai Chetty Street in the 2002 revision. Overall, the guideline value has increased by 378% from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 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 guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Annamalai Chetty Street.

• Annapillai 1st Lane: Rs 6,000 per sq.ft (2024)
• Annapillai 2nd Lane: Rs 6,000 per sq.ft (2024)
• Annapillai 3rd Lane: Rs 6,000 per sq.ft (2024)
• Annapillai 4th Lane: Rs 6,000 per sq.ft (2024)
• Annapillai Street Segment-1 (Broadway - Mint Street): Rs 6,000 per sq.ft (2024)
• Annapillai Street Segment-2 (Mint Street - Walltax Road): Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Annamalai Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annamalai Chetty Street?

Annamalai Chetty Street falls under the jurisdiction of the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthiyalpet. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is typically used to calculate these fees, ensuring that the transaction is compliant with local regulations.

When a property is sold, the guideline value helps establish a baseline for the sale price, ensuring that both parties are aware of the minimum value recognized by the authorities. This is essential for transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Annamalai Chetty Street?

The current guideline value of Annamalai Chetty Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 378% over this period.

What is the land classification for Annamalai Chetty Street?

Annamalai Chetty Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Sowcarpet Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in Annamalai Chetty Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.