Guideline Value for Asirvathapuram 2nd Lane

Asirvathapuram 2nd Lane guideline value

The current guideline value of Asirvathapuram 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet Sub Registrar Office, classified as Residential Class I Type - I.

How the guideline value of Asirvathapuram 2nd Lane has changed

The guideline value for Asirvathapuram 2nd Lane has seen several revisions over the years. In 2003, the value was Rs 982 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. The value then rose significantly to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, which was then revised to Rs 4,400 per sq.ft in 2024.

Between these revisions, the changes were notable: from 2003 to 2007, there was a 22% increase; from 2007 to 2012, a substantial rise of 233%; however, the value decreased by 33% from 2012 to 2017. Following that, there was a significant increase of 49% from 2017 to 2023, and a further 10% rise from 2023 to 2024. The register has no figure for this street for the year 2002.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, making the guideline value of Asirvathapuram 2nd Lane equal to this median.

• Asirvathapuram 1st Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 3rd Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 13th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 4th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 12th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 5th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Asirvathapuram 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Asirvathapuram 2nd Lane?

The Asirvathapuram 2nd Lane falls under 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 during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both parties should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

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

The current guideline value of Asirvathapuram 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, from Rs 982 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 348% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with values across 357 streets ranging from Rs 3,800 to Rs 16,500 per sq.ft.

What are the stamp duty rates for property in Asirvathapuram 2nd Lane?

The stamp duty rate for property in Asirvathapuram 2nd Lane is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Asirvathapuram 2nd Lane?

The Sub Registrar Office covering Asirvathapuram 2nd Lane is located at No.11, Davidson Street, Sowcarpet, Chennai-01.