Guideline Value for Annapillai Street Segment-2 (Mint Street - Walltax Road)

Annapillai Street Segment-2 (Mint Street - Walltax Road) guideline value

The current guideline value of Annapillai Street Segment-2 (Mint Street - Walltax Road) 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 Street Segment-2 (Mint Street - Walltax Road) has changed

The guideline value for Annapillai Street Segment-2 has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 175%. However, the value dropped to Rs 3,685 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 raised it to Rs 5,500 per sq.ft, and the latest revision in 2024 has further increased it to Rs 6,000 per sq.ft, a rise of 9% from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 200%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 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, placing the 2024 figure for Annapillai Street Segment-2 above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be 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 to Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annapillai Street Segment-2 (Mint Street - Walltax Road)?

The Sub Registrar Office that covers Annapillai Street Segment-2 is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. You can find your SRO for more information.

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 serves as a benchmark for determining the stamp duty and registration fees payable to the government. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Annapillai Street Segment-2?

The current guideline value of Annapillai Street Segment-2 (Mint Street - Walltax Road) 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 are the stamp duty and registration fees for property in this area?

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 Sub Registrar Office covers Annapillai Street Segment-2?

The Sowcarpet Sub Registrar Office covers Annapillai Street Segment-2, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the land classification for Annapillai Street Segment-2?

Annapillai Street Segment-2 is classified as Residential Special Type - I, indicating its suitability for residential developments.