Guideline Value for APPOLLO ARMSTRONG NAGAR

Appollo Armstrong Nagar guideline value

The current guideline value of Appollo Armstrong Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Matthur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Appollo Armstrong Nagar has changed

The guideline value for Appollo Armstrong Nagar has undergone several revisions over the years. In 2002, the value was Rs 61 per sq.ft, which increased to Rs 72 per sq.ft in 2003. Following that, there was a significant rise to Rs 100 per sq.ft in 2007, and then to Rs 1,000 per sq.ft in 2012. However, the value dropped to Rs 670 per sq.ft in 2017. The most recent revisions saw the value increase to Rs 1,000 per sq.ft in 2023, and it further rose to Rs 1,100 per sq.ft in 2024.

Between the revisions, there were notable changes. The guideline value increased by 18% from 2002 to 2003, followed by a 39% increase from 2003 to 2007. The value then surged by 900% from 2007 to 2012, but experienced a decline of 33% from 2012 to 2017. From 2017 to 2023, the value rose by 49%, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,703%.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which is the same as the guideline value for Appollo Armstrong Nagar.

• Arulanandham Nagar/ Ext: Rs 1,100 per sq.ft (2024)
• Anna Nagar: Rs 1,100 per sq.ft (2024)
• Ananda Nagar/Anantham Nagar: Rs 1,100 per sq.ft (2024)
• Bakthavatchulu Nagar: Rs 1,100 per sq.ft (2024)
• Ajis Nagar/ Assisi Nagar: Rs 1,100 per sq.ft (2024)
• Balamurugan Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Appollo Armstrong Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important 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 Appollo Armstrong Nagar?

The Sub Registrar Office that covers Appollo Armstrong Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering properties in Matthur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. When a property transaction occurs, the guideline value is referred to for calculating applicable duties and fees.

During the registration process, the guideline value ensures that the transaction reflects a fair value for taxation purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal and financial obligations during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Appollo Armstrong Nagar?

The current guideline value of Appollo Armstrong Nagar is Rs 1,100 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 61 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1,703% over the years.

What is the land classification for Appollo Armstrong Nagar?

Appollo Armstrong Nagar is classified as Residential Special Type - III, indicating its designation for residential purposes.

Where can I find the registration office for Appollo Armstrong Nagar?

The registration office for Appollo Armstrong Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Appollo Armstrong Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.