Guideline Value for Armenian 3rd Segment (Post Office to Mannady Street Junction)

Armenian 3rd Segment (Post Office to Mannady Street Junction) guideline value

The current guideline value for Armenian 3rd Segment (Post Office to Mannady Street Junction) 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 3rd Segment (Post Office to Mannady Street Junction) has changed

The guideline value for Armenian 3rd Segment has seen several revisions over the years. In 2007, the value was Rs 4,500 per sq.ft, which increased significantly to Rs 13,500 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 9,045 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 13,500 per sq.ft in 2023, showing a 49% increase. The latest revision in 2024 set the guideline value at Rs 14,800 per sq.ft, a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 229%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Armenian 3rd Segment is above this median, indicating its relative position in the area.

• Armenian 2nd segment (from Mookar Nallamuthu Street to Post Office street Junction): Rs 15,900 per sq.ft (2024)
• Armenian segment 4th segment (Mannady to Ibrahim Street): Rs 14,800 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 3rd Segment (Post Office to Mannady Street Junction)

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value would be Rs 1,48,00,000. The stamp duty at 7% would amount to Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, bringing the total charges to Rs 13,32,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Armenian 3rd Segment (Post Office to Mannady Street Junction)?

The Armenian 3rd Segment 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 critical factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

Frequently asked questions

What is the current guideline value for Armenian 3rd Segment?

The current guideline value for Armenian 3rd Segment (Post Office to Mannady Street Junction) 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 from Rs 4,500 per sq.ft in 2007 to Rs 14,800 per sq.ft in 2024, reflecting an overall increase of 229% over the years.

What is the land classification for Armenian 3rd Segment?

The land classification for Armenian 3rd Segment is Commercial Class I Type - III, indicating its commercial usage within the area.

Where can I find the registration office for Armenian 3rd Segment?

The registration office covering Armenian 3rd Segment is the Chennai North Joint I Sub Registrar Office, located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

How is stamp duty calculated for properties in Muthialpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,48,00,000, the stamp duty would be Rs 10,36,000 at a rate of 7%.