Guideline Value for Asthapujam Lane

Asthapujam Lane guideline value

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

How the guideline value of Asthapujam Lane has changed

The guideline value for Asthapujam Lane has seen several revisions over the years. In 2003, the value was Rs 920 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 decreasing to Rs 2,680 per sq.ft in 2017. Following this, the value increased to Rs 4,000 per sq.ft in 2023 and is now Rs 4,400 per sq.ft in 2024. The register has no figure for the year 2002 for this street.

From 2017 to 2023, there was a 49% increase, while from 2012 to 2017, there was a decrease of 33%. The increase from 2007 to 2012 was significant at 233%, and from 2003 to 2007, the value rose by 30%. Overall, from 2003 to 2024, the guideline value has increased by 378%.

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, with a median value of Rs 4,400 per sq.ft. Asthapujam Lane's 2024 figure aligns with this median value.

• Athiappan Naicken Lane: Rs 8,800 per sq.ft (2024)
• Athiappan Naicken Street: Rs 8,800 per sq.ft (2024)
• Asirvathapuram Street: Rs 4,400 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Asthapujam 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Asthapujam Lane?

The Sub Registrar Office that covers Asthapujam Lane 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 is a crucial factor when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property transaction occurs, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions as outlined in the guideline value register.

Frequently asked questions

What is the current guideline value of Asthapujam Lane?

The current guideline value of Asthapujam 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 from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 378% over this period.

Where can I find the Sub Registrar Office for Asthapujam Lane?

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

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

What is the land classification of Asthapujam Lane?

Asthapujam Lane is classified as Residential Class I Type - I, indicating its suitability for residential purposes.