Guideline Value for Asirvathapuram Street

Asirvathapuram Street guideline value

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

How the guideline value of Asirvathapuram Street has changed

The guideline value for Asirvathapuram Street has seen several revisions over the years. The earliest recorded value was Rs 982 per sq.ft in 2003, which increased to Rs 1,200 per sq.ft in 2007. Following this, the value rose significantly to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and the most recent revision set it at Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a substantial 233%. The value rose by 22% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 348%. The register has no figure for this street in 2002.

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, making Asirvathapuram Street's 2024 figure equal to that median.

• Asirvathapuram 9th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 8th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 7th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 6th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 5th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 4th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Asirvathapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Asirvathapuram Street?

The Sub Registrar Office that covers Asirvathapuram Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthiyalpet. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Asirvathapuram Street?

The current guideline value of Asirvathapuram Street 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 from Rs 982 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking 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, which is the same as the current value for Asirvathapuram Street.

What are the stamp duty rates for properties in Asirvathapuram Street?

The stamp duty for properties in Asirvathapuram Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Asirvathapuram Street located?

The Sub Registrar Office that covers Asirvathapuram Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.