Guideline Value for Ayyasamy 1st lane

Ayyasamy 1st lane guideline value

The current guideline value of Ayyasamy 1st lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ayyasamy 1st lane has changed

The guideline value for Ayyasamy 1st lane has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure saw a decrease to Rs 3,350 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 5,000 per sq.ft, and the most recent revision in 2024 set it at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, which is equal to the guideline value of Ayyasamy 1st lane.

• Ayyasamy 2nd lane: Rs 5,500 per sq.ft (2024)
• Ayyasamy street*: Rs 5,500 per sq.ft (2024)
• Ayyapa street: Rs 7,100 per sq.ft (2024)
• Azis Street: Rs 3,800 per sq.ft (2024)
• Bakers lane: Rs 4,900 per sq.ft (2024)
• Bakers street (Broadway): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyasamy 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Ayyasamy 1st lane?

The Sub Registrar Office that covers Ayyasamy 1st lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value helps in calculating the necessary fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ayyasamy 1st lane?

The current guideline value of Ayyasamy 1st lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 175% over this period.

What is the land classification for Ayyasamy 1st lane?

Ayyasamy 1st lane is classified as Residential Class II Type - I, indicating its suitability for residential development.

Which Sub Registrar Office is responsible for Ayyasamy 1st lane?

The Chennai North Joint I Sub Registrar Office is responsible for Ayyasamy 1st lane, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

How is stamp duty calculated for properties in Muthialpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.