Guideline Value for APPADURAI STREET

Appadurai Street guideline value

The current guideline value of Appadurai Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Appadurai Street has changed

The guideline value of Appadurai Street has undergone several revisions over the years. In 2002, the value was Rs 245 per sq.ft, which increased to Rs 304 per sq.ft in 2003. The subsequent revision in 2007 saw a significant jump to Rs 900 per sq.ft, followed by a rise to Rs 2,800 per sq.ft in 2012. However, the value then decreased to Rs 1,876 per sq.ft in 2017. The value rose again to Rs 2,800 per sq.ft in 2023, before reaching the current figure of Rs 3,100 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 24% from 2002 to 2003, followed by a 196% rise from 2003 to 2007. The value then increased by 211% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. The 2017 to 2023 period experienced a substantial increase of 49%, culminating in an 11% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1165%.

Guideline values in Ramapuram

Ramapuram village has a total of 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, which is the same as the current value for Appadurai Street.

• ANNASAMY Street: Rs 3,100 per sq.ft (2024)
• Aringar Anna Street: Rs 2,750 per sq.ft (2024)
• Arunachalam 1st Street: Rs 2,750 per sq.ft (2024)
• Arunachalam 2nd Street: Rs 2,750 per sq.ft (2024)
• ARUNACHALAM Street: Rs 2,750 per sq.ft (2024)
• Annai Sathya Nagar Extension: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Appadurai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total to Rs 2,79,000. 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 Appadurai Street?

The Sub Registrar Office that covers Appadurai Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are conducted at a fair value.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Appadurai Street?

The current guideline value of Appadurai Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 245 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, reflecting an overall increase of 1165%.

What is the land classification of Appadurai Street?

Appadurai Street is classified as Residential Class II Type - I under the Chennai South Joint II SRO.

Where can I find the Sub Registrar Office for Appadurai Street?

The Sub Registrar Office for Appadurai Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Ramapuram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.