Guideline Value for Annapillai 2nd Lane

Annapillai 2nd Lane guideline value

The current guideline value of Annapillai 2nd 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 2nd Lane has changed

The guideline value for Annapillai 2nd Lane has undergone several revisions over the years. In 2007, the value was set at Rs 2,000 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 175% rise. However, this value decreased to Rs 3,685 per sq.ft in 2017, reflecting a 33% drop. The subsequent revision in 2023 brought the value back up to Rs 5,500 per sq.ft, and the latest revision in 2024 has set it at Rs 6,000 per sq.ft, which is a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 200%. The register does not contain figures for the years 2002 and 2003 for this street.

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 value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for Annapillai 2nd Lane is above this median.

• Annapillai 1st 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 2nd Lane

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, bringing the total to Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Annapillai 2nd Lane?

The Sub Registrar Office covering Annapillai 2nd Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted fairly and transparently.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Annapillai 2nd Lane?

The current guideline value of Annapillai 2nd 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, representing an overall increase of 200% over the years.

What is the median guideline value for streets in Muthiyalpet?

The median guideline value for the 357 streets in Muthiyalpet is Rs 4,400 per sq.ft, which is below the current value of Annapillai 2nd Lane.

What are the stamp duty and registration fees for property in Annapillai 2nd Lane?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000, and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles registrations for Annapillai 2nd Lane?

The Sowcarpet Sub Registrar Office handles registrations for Annapillai 2nd Lane, located at No.11, Davidson Street, Sowcarpet, Chennai-01.