Guideline Value for APPER STREET

Apper Street guideline value

The current guideline value of Apper Street in Medavakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Apper Street has changed

The guideline value of Apper Street has seen several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 178%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased again to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Apper Street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Apper Street's 2024 value above this median.

• Anna Street: Rs 2,200 per sq.ft (2024)
• Annasalai Nagar: Rs 2,750 per sq.ft (2024)
• Annapoorani Nagar / Street: Rs 2,750 per sq.ft (2024)
• Annaitherasa Street: Rs 2,200 per sq.ft (2024)
• Annai Indira Nagar: Rs 2,750 per sq.ft (2024)
• Avvaiyar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Apper Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value totals Rs 27,50,000. The stamp duty at 7% amounts to Rs 1,92,500, and the registration fee at 2% is Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Apper Street?

The Sub Registrar Office that covers Apper Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Medavakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it directly affects the overall cost of the transaction. Understanding these values helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Apper Street?

The current guideline value of Apper Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 206% over the years.

What is the land classification of Apper Street?

Apper Street is classified as Commercial Class I Type - III.

What are the stamp duty and registration fees for property in Apper Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, resulting in a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Apper Street?

The Chennai South Joint I Sub Registrar Office covers Apper Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.