Guideline Value for APPADURAI CHETTY STREET

Appadurai Chetty Street guideline value

The current guideline value of Appadurai Chetty Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Appadurai Chetty Street has changed

The guideline value for Appadurai Chetty Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 402 per sq.ft. This increased to Rs 455 per sq.ft in 2003, marking a 13% rise. The value then saw a significant increase to Rs 900 per sq.ft in 2007, which is a 98% change. Following this, the 2012 revision set the value at Rs 2,300 per sq.ft, reflecting a 156% increase from the previous revision.

In the subsequent revisions, the guideline value decreased to Rs 1,541 per sq.ft in 2017, showing a decline of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 2,300 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, which is a 9% increase from the previous year.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, indicating that the 2024 guideline value for Appadurai Chetty Street is below this median.

• APPAR STREET (Britannia back side): Rs 2,800 per sq.ft (2024)
• A.P.PLOTS 10th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 11th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 12th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 1st STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 2nd STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Appadurai Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. Please 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 further calculations.

Which Sub Registrar Office covers Appadurai Chetty Street?

The Sub Registrar Office that covers Appadurai Chetty Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Padi. It determines the amount of stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the costs involved. It is essential to refer to the latest guideline value to ensure accurate calculations during the transaction.

Frequently asked questions

What is the current guideline value for Appadurai Chetty Street?

The current guideline value for Appadurai Chetty Street is Rs 2,500 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 402 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, representing an overall increase of 522%.

What is the median guideline value for streets in Padi?

The median guideline value for streets in Padi is Rs 3,800 per sq.ft, with Appadurai Chetty Street's 2024 value being below this median.

What are the stamp duty and registration fees for property in Appadurai Chetty Street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 25,00,000, with stamp duty at Rs 1,75,000 and registration fee at Rs 50,000, totaling Rs 2,25,000.

Which office handles the registration for Appadurai Chetty Street?

The Villivakkam Sub Registrar Office handles the registration for Appadurai Chetty Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.