Guideline Value for APPADURAI THOTTAM 1ST LANE

Appadurai Thottam 1st Lane guideline value

The current guideline value of Appadurai Thottam 1st Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class IV Type - II.

How the guideline value of Appadurai Thottam 1st Lane has changed

Over the years, the guideline value for Appadurai Thottam 1st Lane has seen several revisions. The 2012 revision set the value at Rs 7,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value increased to Rs 7,000 per sq.ft, and then further rose by 10% to Rs 7,700 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing the 2024 figure for Appadurai Thottam 1st Lane below this median.

• Appadurai Street: Rs 8,800 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 Thottam 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total cost for these fees to Rs 6,93,000. It is essential to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appadurai Thottam 1st Lane?

The Sub Registrar Office that covers Appadurai Thottam 1st Lane 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the appropriate fees are collected based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Appadurai Thottam 1st Lane?

The current guideline value of Appadurai Thottam 1st Lane is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 7,000 per sq.ft from 2012 until 2023, when it increased to Rs 7,700 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, which is higher than the current guideline value of Appadurai Thottam 1st Lane.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find more details by visiting the appropriate link.