Guideline Value for Appasamy Lane

Appasamy Lane guideline value

The current guideline value of Appasamy Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, and it falls under the Residential Special Type - III land classification.

How the guideline value of Appasamy Lane has changed

The guideline value for Appasamy Lane has undergone several revisions over the years. The earliest recorded value in the register is from 2003, where it was Rs 1,129 per sq.ft. This increased to Rs 1,600 per sq.ft in 2007, marking a rise of 42%. In 2012, the value was Rs 4,500 per sq.ft, which was a significant jump of 181%. However, it decreased to Rs 3,015 per sq.ft in 2017, reflecting a decline of 33%. The value then rose sharply to Rs 4,500 per sq.ft in 2023, an increase of 49%, and finally reached Rs 4,900 per sq.ft in the 2024 revision, a 9% increase from the previous year. The register has no figure for this street for the year 2002.

Overall, from 2003 to 2024, the guideline value has increased by 334%. The changes in the guideline value reflect the fluctuations in the real estate landscape in Muthiyalpet.

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 guideline value for the area is Rs 4,400 per sq.ft, making Appasamy Lane's 2024 figure of Rs 4,900 per sq.ft above this median.

• Appasamy Mudali Street: Rs 4,900 per sq.ft (2024)
• Appan Street: Rs 4,400 per sq.ft (2024)
• Appu Maistry Street: Rs 4,900 per sq.ft (2024)
• Arak Godown Street: Rs 3,800 per sq.ft (2024)
• Anumantha Rayan Koil Street: Rs 4,400 per sq.ft (2024)
• Anthony Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Appasamy Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value is Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for stamp duty and registration fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Appasamy Lane?

The Sub Registrar Office that covers Appasamy 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 in the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to assess the official value of the property, which can impact the overall costs involved in the transaction. Buyers and sellers should be aware of the current guideline value to ensure they are prepared for the associated fees during the registration process.

Frequently asked questions

What is the current guideline value of Appasamy Lane?

The current guideline value of Appasamy Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 1,129 per sq.ft in 2003 and reaching Rs 4,900 per sq.ft in 2024, which is an overall increase of 334%.

What is the land classification of Appasamy Lane?

Appasamy Lane is classified under Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Appasamy Lane?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000 for the transaction.

Which Sub Registrar Office covers Appasamy Lane?

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