Guideline Value for Annapillai 1st Lane

Annapillai 1st Lane guideline value

The current guideline value of Annapillai 1st Lane is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - I.

How the guideline value of Annapillai 1st Lane has changed

The guideline value for Annapillai 1st Lane has undergone several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012. However, this figure decreased to Rs 3,685 per sq.ft in 2017. The subsequent revision in 2023 raised the guideline value to Rs 5,500 per sq.ft, and the latest revision in 2024 has set it at Rs 6,000 per sq.ft. The changes between these revisions are notable: from 2007 to 2012, there was a significant increase of 175%, followed by a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023. The latest change from 2023 to 2024 reflects a 9% increase.

There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Annapillai 1st Lane's 2024 figure above this median.

• 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)
• Anthony Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Annapillai 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value is Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees to Rs 5,40,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annapillai 1st Lane?

The Sub Registrar Office covering Annapillai 1st Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, understanding the guideline value helps in assessing the financial implications of the transaction. It is essential for both parties to be informed about the current guideline value to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Annapillai 1st Lane?

The current guideline value of Annapillai 1st Lane 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 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 200% over the years.

What is the land classification for Annapillai 1st Lane?

Annapillai 1st Lane is classified as Residential Special Type - I, indicating its suitability 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 in Muthiyalpet?

Stamp duty in Muthiyalpet is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.