Guideline Value for Athiappan Naicken Street

Athiappan Naicken Street guideline value

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

How the guideline value of Athiappan Naicken Street has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking a rise of 167%. However, it then dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. The value continued to rise to Rs 8,000 per sq.ft in 2023, and most recently, it reached Rs 8,800 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

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 is Rs 4,400 per sq.ft, placing Athiappan Naicken Street's 2024 figure above this median.

• Athiappan Naicken Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value is 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, making the total fees together Rs 7,92,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Athiappan Naicken Street?

The Sub Registrar Office that covers Athiappan Naicken Street is 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 when buying or selling property in Muthiyalpet. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for the transaction price, ensuring that the fees are calculated accurately based on the higher of the guideline value or the sale price. This process helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Athiappan Naicken Street?

The current guideline value of Athiappan Naicken Street 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 increased from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting a total increase of 193% over the years.

What are the guideline values of other streets in Muthiyalpet?

Other streets in Muthiyalpet have varying guideline values, with rates ranging from Rs 3,800 to Rs 16,500 per sq.ft. Athiappan Naicken Street's value is above the median of Rs 4,400 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 7,92,000.

Which office do I need to visit for registration in Athiappan Naicken Street?

The Sowcarpet Sub Registrar Office is responsible for registrations in Athiappan Naicken Street. It is located at No.11, Davidson Street, Sowcarpet, Chennai-01.