Guideline Value for Armenian segment 4th segment(Mannady to Ibrahim Street)

Armenian segment 4th segment(Mannady to Ibrahim Street) guideline value

The current guideline value for Armenian segment 4th segment (Mannady to Ibrahim Street) is Rs 14,800 per sq.ft, effective from 1 July 2024. This segment is located in Muthialpet village and falls under the Chennai North Joint I SRO, classified as Commercial Class I Type - III.

How the guideline value of Armenian segment 4th segment(Mannady to Ibrahim Street) has changed

The guideline value for Armenian segment 4th segment has seen significant changes over the years. In the 2007 revision, the value was Rs 4,500 per sq.ft, which increased dramatically to Rs 13,500 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value decreased to Rs 9,045 per sq.ft, reflecting a decline of 33%. The 2023 revision set the value at Rs 13,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 14,800 per sq.ft, a rise of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 229%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing the Armenian segment 4th segment's 2024 figure above this median.

• Armenian 3rd Segment (Post Office to Mannady Street Junction): Rs 14,800 per sq.ft (2024)
• Armenian 2nd segment (from Mookar Nallamuthu Street to Post Office street Junction): Rs 15,900 per sq.ft (2024)
• Armenian 1st segment (N.S.C.Bose road to Mookar Nallamuthu Street): Rs 16,500 per sq.ft (2024)
• Arput nath street: Rs 5,500 per sq.ft (2024)
• Appupillai Lane @ Appu Maistry Street: Rs 3,800 per sq.ft (2024)
• Appasamy street *: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Armenian segment 4th segment(Mannady to Ibrahim Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value amounts to Rs 1,48,00,000. The stamp duty at 7% would be Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, totaling Rs 13,32,000. 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 Armenian segment 4th segment(Mannady to Ibrahim Street)?

The Armenian segment 4th segment (Mannady to Ibrahim Street) is covered by the Chennai North Joint I Sub Registrar Office, located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Muthialpet, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value for Armenian segment 4th segment?

The current guideline value for Armenian segment 4th segment (Mannady to Ibrahim Street) is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 4,500 per sq.ft in 2007 to Rs 14,800 per sq.ft in 2024, marking an overall increase of 229% over the years.

What is the land classification for Armenian segment 4th segment?

The land classification for Armenian segment 4th segment (Mannady to Ibrahim Street) is Commercial Class I Type - III.

How is the stamp duty calculated for properties in this segment?

Stamp duty for properties in Armenian segment 4th segment is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are also applicable at 2% of the guideline value.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Armenian segment 4th segment is the Chennai North Joint I Sub Registrar Office, located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.