Guideline Value for APPADURAI STREET

Appadurai Street guideline value

The current guideline value of Appadurai Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Appadurai Street has changed

The guideline value for Appadurai Street has seen significant changes over the years. In 2002, the guideline value was Rs 721 per sq.ft, which increased to Rs 801 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,540 per sq.ft in 2007, reflecting a substantial increase of 92%. By the 2012 revision, the value reached Rs 8,000 per sq.ft, showing a remarkable increase of 419% from 2007. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, which is a 10% increase from the 2012 figure.

There are no registered figures for Appadurai Street in 2017 and 2023. Overall, from 2002 to 2024, the guideline value has increased by 1121%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value of Appadurai Street.

• Appadurai Thottam 1st Lane: Rs 7,700 per sq.ft (2024)
• Appadurai Thottam 2nd Lane: Rs 7,700 per sq.ft (2024)
• Appadurai Thottam 3rd Lane: Rs 7,700 per sq.ft (2024)
• Appadurai Thottam 4th Lane: Rs 7,700 per sq.ft (2024)
• Appadurai Thottam 5th Lane: Rs 7,700 per sq.ft (2024)
• Appadurai Thottam 6th Lane: Rs 7,700 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 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Together, the total cost for stamp duty and registration would be Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Appadurai Street?

The Sub Registrar Office that covers Appadurai Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

When buying or selling property in Mylapore, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official register.

The guideline value is established by the Registration Department and is periodically revised to reflect the current market conditions. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Appadurai Street?

The current guideline value of Appadurai Street is Rs 8,800 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 721 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 1121% over the years.

What are the other streets in Mylapore with their guideline values?

Other streets in Mylapore include Appadurai Thottam 1st Lane, 2nd Lane, 3rd Lane, 4th Lane, 5th Lane, and 6th Lane, all of which have a guideline value of Rs 7,700 per sq.ft in 2024.

What is the stamp duty rate for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. This amount must be paid during the registration process.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Mylapore Sub Registrar Office located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018, or by using the provided link to find your SRO.