Guideline Value for APPAKANNU STREET

Appakannu Street guideline value

The current guideline value of Appakannu Street is Rs 9,300 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 - II.

How the guideline value of Appakannu Street has changed

The guideline value for Appakannu Street has undergone several revisions over the years. In 2002, the value was set at Rs 1,192 per sq.ft. This increased to Rs 1,324 per sq.ft in 2003, reflecting a change of +11%. The value continued to rise significantly, reaching Rs 1,540 per sq.ft in 2007, which was a +16% increase from the previous revision. Following this, the value surged to Rs 8,500 per sq.ft in 2012, marking an impressive increase of +452%.

However, the value saw a decrease of -33% to Rs 5,695 per sq.ft in 2017. The most recent revisions show a substantial increase, with the guideline value rising to Rs 8,500 per sq.ft in 2023, and then to Rs 9,300 per sq.ft in 2024, which is a +9% change. Overall, from 2002 to 2024, the guideline value has increased by +680%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with the 2024 guideline values 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, placing Appakannu Street's 2024 figure above that median.

• Appakannu Lane: Rs 8,800 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total cost together to Rs 8,37,000. 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 Street?

The Sub Registrar Office that covers Appakannu 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

The guideline value is a crucial factor in the registration process for properties in Mylapore. When a property is registered, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the government.

Additionally, the guideline value helps in maintaining transparency in property transactions. Buyers and sellers can refer to the guideline value to understand the official valuation of the property, which aids in fair dealings during the buying or selling process.

Frequently asked questions

What is the current guideline value of Appakannu Street?

The current guideline value of Appakannu Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,192 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, reflecting an overall increase of +680% across the years.

What is the land classification for Appakannu Street?

Appakannu Street is classified as Residential Class III Type - II.

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

For a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000.

Where is the Sub Registrar Office for Appakannu Street located?

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