Guideline Value for Athiappan Naicken Lane

Athiappan Naicken Lane guideline value

The current guideline value of Athiappan Naicken Lane is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Athiappan Naicken Lane has changed

The guideline value for Athiappan Naicken Lane has seen several revisions over the years. The 2007 revision set the value at Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking a 167% rise. However, the value then dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value back up to Rs 8,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Athiappan Naicken Lane. Overall, from 2007 to 2024, the guideline value has increased by 193%.

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. Athiappan Naicken Lane's guideline value of Rs 8,800 per sq.ft is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Athiappan Naicken Lane?

The Sub Registrar Office that covers Athiappan Naicken Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Athiappan Naicken Lane?

The current guideline value of Athiappan Naicken Lane is Rs 8,800 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 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 193% over this period.

What is the land classification for Athiappan Naicken Lane?

Athiappan Naicken Lane falls under the Commercial Class I Type - II land classification.

Where can I find the Sowcarpet Sub Registrar Office?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This calculation is essential for determining the total costs involved in the registration process.