Guideline Value for Ayyasamy2nd lane

Ayyasamy2nd lane guideline value

The current guideline value of Ayyasamy2nd lane in Muthialpet village is Rs 5,500 per sq.ft, effective from 1 July 2024. This property falls under the Chennai North Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Ayyasamy2nd lane has changed

The guideline value for Ayyasamy2nd lane has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The value rose significantly to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. The changes between these revisions include a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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

Guideline values in Muthialpet

Muthialpet village has a range of guideline values across its 160 streets under the Chennai North Joint I SRO, with values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, which matches the current guideline value for Ayyasamy2nd lane.

• Ayyasamy 1st 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 Ayyasamy2nd 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 the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ayyasamy2nd lane?

The Ayyasamy2nd lane is covered by 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 in property transactions in Muthialpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ayyasamy2nd lane?

The current guideline value of Ayyasamy2nd 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 the years.

What are the stamp duty and registration fees for properties in Ayyasamy2nd lane?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Ayyasamy2nd lane?

The Chennai North Joint I Sub Registrar Office handles registrations for Ayyasamy2nd lane, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the land classification for Ayyasamy2nd lane?

Ayyasamy2nd lane is classified as Residential Class II Type - I, indicating its suitability for residential purposes.