Guideline Value for Nainiappa Maistry Lane

Nainiappa Maistry Lane guideline value

The current guideline value of Nainiappa Maistry Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This lane is located in Muthiyalpet village, under the Sowcarpet Sub Registrar Office. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nainiappa Maistry Lane has changed

The guideline value for Nainiappa Maistry Lane has undergone several revisions over the years. The earliest recorded value was Rs 1,200 per sq.ft in 2007. This increased significantly to Rs 4,000 per sq.ft in 2012, reflecting a growth of 233%. However, the value then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. Following this, the value rose to Rs 4,000 per sq.ft in 2023, marking a substantial increase of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no recorded figures for Nainiappa Maistry Lane in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Nainiappa Maistry Lane.

• Nainiappa Maistry Street: Rs 6,000 per sq.ft (2024)
• Nainiappa Mudali Street: Rs 6,000 per sq.ft (2024)
• Nainiappa Naicken Street: Rs 8,800 per sq.ft (2024)
• Nallamma Mudali Street: Rs 3,800 per sq.ft (2024)
• Nallanna Mudali Street: Rs 3,800 per sq.ft (2024)
• Nambuliyar Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nainiappa Maistry Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nainiappa Maistry Lane?

Nainiappa Maistry Lane falls under the jurisdiction of 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 during the registration of property transactions in Muthiyalpet. It serves as a benchmark for assessing the value of the property being sold or purchased, ensuring that the registration fees and stamp duties are calculated accurately.

When buying or selling property, it is essential to be aware of the current guideline value, as this will influence the overall costs associated with the transaction, including registration fees and stamp duties.

Frequently asked questions

What is the current guideline value of Nainiappa Maistry Lane?

The current guideline value of Nainiappa Maistry Lane 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 significantly, from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267%.

What is the land classification for Nainiappa Maistry Lane?

The land classification for Nainiappa Maistry Lane is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Nainiappa Maistry Lane?

The Sowcarpet Sub Registrar Office covers Nainiappa Maistry Lane and is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is stamp duty calculated for properties in Nainiappa Maistry Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.