Guideline Value for Ayarn Mangar Street

Ayarn Mangar Street guideline value

The current guideline value of Ayarn Mangar Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the jurisdiction of the Sowcarpet Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Ayarn Mangar Street has changed

The guideline value for Ayarn Mangar Street has seen several revisions over the years. In 2007, the guideline value was set at Rs 1,200 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, the value decreased to Rs 2,680 per sq.ft in 2017, which was a decline of 33%. The subsequent revision in 2023 brought the value up to Rs 4,000 per sq.ft, reflecting a substantial increase of 49% from the previous figure.

The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value for Ayarn Mangar Street.

• Ayalur Muthaiah Street: Rs 5,500 per sq.ft (2024)
• Ayyan Mudali Street: Rs 4,400 per sq.ft (2024)
• Ayya Pillai Street: Rs 8,800 per sq.ft (2024)
• Athiappan Naicken Street: Rs 8,800 per sq.ft (2024)
• Athiappan Naicken Lane: Rs 8,800 per sq.ft (2024)
• Asthapujam Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ayarn Mangar Street

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, charged at 7%, would amount to Rs 3,08,000, and the registration fee, charged at 2%, would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayarn Mangar Street?

The Sub Registrar Office that covers Ayarn Mangar Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, within the Chennai registration zone. You can find your SRO for more details.

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. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value is a reference point for buyers and sellers to assess property prices in the area. It helps in maintaining transparency and uniformity in property transactions, ensuring that all parties are aware of the minimum value recognized by the government for registration purposes.

Frequently asked questions

What is the current guideline value of Ayarn Mangar Street?

The current guideline value of Ayarn Mangar 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024. This represents an overall increase of 267% over the years.

What is the land classification for Ayarn Mangar Street?

The land classification for Ayarn Mangar Street is Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 44,00,000, the total stamp duty and registration fees would be Rs 3,96,000.

Which office handles registrations for Ayarn Mangar Street?

The Sowcarpet Sub Registrar Office handles registrations for Ayarn Mangar Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.