Guideline Value for Nammalvar Lane Leading To Street

Nammalvar Lane Leading To Street guideline value

The current guideline value of Nammalvar Lane Leading To Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Nammalvar Lane Leading To Street has changed

The guideline value for Nammalvar Lane Leading To Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 250% rise. However, the value dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33% from the previous revision. By 2023, the guideline value had risen to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,800 per sq.ft, an increase of 9% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 280%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, making Nammalvar Lane Leading To Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Nammalvar Lane Leading To Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nammalvar Lane Leading To Street?

The Nammalvar Lane Leading To Street is covered by 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 an essential factor when buying or selling property in Muthiyalpet. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must ensure that the sale price is equal to or higher than the guideline value. This ensures compliance with the regulations set by the registration department and helps in the proper calculation of applicable duties.

Frequently asked questions

What is the current guideline value of Nammalvar Lane Leading To Street?

The current guideline value of Nammalvar Lane Leading To Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 280%.

What are the stamp duty and registration fees for property in Nammalvar Lane Leading To Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles the registration for Nammalvar Lane Leading To Street?

The Sowcarpet Sub Registrar Office handles the registration for Nammalvar Lane Leading To Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Nammalvar Lane Leading To Street's 2024 figure being below this median.