Guideline Value for APPAKANNU LANE

Appakannu Lane guideline value

The current guideline value of Appakannu Lane is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Appakannu Lane has changed

Over the years, the guideline value of Appakannu Lane has seen significant changes. The earliest recorded figure in 2002 was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,540 per sq.ft in 2007, a substantial increase of 59%. In 2012, the value remained unchanged at Rs 8,000 per sq.ft, which persisted until the 2023 revision. The 2023 revision saw the value at Rs 8,000 per sq.ft, and it increased by 10% to Rs 8,800 per sq.ft in the 2024 revision.

It is noteworthy that there is no recorded guideline value for Appakannu Lane in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 909%.

Guideline values in Mylapore

In Mylapore, 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 value for these streets is Rs 8,800 per sq.ft, which is equal to the current guideline value of Appakannu Lane.

• Appakannu Street: Rs 9,300 per sq.ft (2024)
• APPADURAI THOTTAM - (M.K.Amman Koil Street ܼè¤ô¢ à÷¢÷¶): Rs 7,100 per sq.ft (2024)
• Appadurai Thottam 6th Lane: Rs 7,700 per sq.ft (2024)
• Appadurai Thottam 5th Lane: Rs 7,700 per sq.ft (2024)
• Appadurai Thottam 4th Lane: Rs 7,700 per sq.ft (2024)
• Appadurai Thottam 3rd Lane: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Appakannu Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000. Together, these fees would total Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appakannu Lane?

The Sub Registrar Office that covers Appakannu 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 information.

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

The guideline value is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the expected value of the property. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Appakannu Lane?

The current guideline value of Appakannu Lane 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 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 909%.

What are the stamp duty and registration fees for properties in Appakannu Lane?

For a property valued at Rs 88,00,000, the stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Appakannu Lane?

The Mylapore Sub Registrar Office covers Appakannu Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Appakannu Lane?

The land classification for Appakannu Lane is Residential Class III Type - III.