Guideline Value for APPASAMY STREET

Appasamy Street guideline value

The current guideline value of Appasamy Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Appasamy Street has changed

The guideline value for Appasamy Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then increased again to Rs 5,000 per sq.ft in the 2023 revision, and finally reached Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 206%. The register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, which is equal to the current guideline value of Appasamy Street.

• Arasappa Mudali Street: Rs 5,500 per sq.ft (2024)
• Anusuya Avenue: Rs 8,800 per sq.ft (2024)
• Anthoni Street: Rs 5,500 per sq.ft (2024)
• Arimuthu Street: Rs 5,500 per sq.ft (2024)
• Arunachalam 1st Lane: Rs 4,900 per sq.ft (2024)
• Arunachalam 2nd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Appasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appasamy Street?

The Sub Registrar Office that covers Appasamy Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Appasamy Street?

The current guideline value of Appasamy Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Appasamy Street?

Appasamy Street is classified as Residential Class III Type - I under the Purasaivakkam SRO.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Appasamy Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Appasamy Street located?

The Sub Registrar Office for Appasamy Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.