Guideline Value for Appa Rao Garden 1st Cross street

Appa Rao Garden 1st Cross street guideline value

The current guideline value of Appa Rao Garden 1st Cross street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - I.

How the guideline value of Appa Rao Garden 1st Cross street has changed

The guideline value for Appa Rao Garden 1st Cross street has undergone several revisions over the years. In 2002, the value was Rs 508 per sq.ft, which increased to Rs 560 per sq.ft in 2003. Following this, the value saw significant growth, reaching Rs 1,500 per sq.ft in 2007. However, it decreased to Rs 3,600 per sq.ft in 2012, before rising again to Rs 2,412 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The period from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was 140%. Notably, the value surged by 168% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 668%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Appa Rao Garden 1st Cross street is below this median.

• Appa Rao Garden: Rs 7,100 per sq.ft (2024)
• Appa Rao Garden 2nd cross Street: Rs 6,300 per sq.ft (2024)
• Appa Rao Garden 3rd Cross street: Rs 3,900 per sq.ft (2024)
• Appa Rao Gardeb 6th cross street: Rs 3,900 per sq.ft (2024)
• Appa Rao Garden 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Appa Rao Garde 5th cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Appa Rao Garden 1st Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Appa Rao Garden 1st Cross street?

The Sub Registrar Office that covers Appa Rao Garden 1st Cross street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

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

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of property transactions. The guideline value ensures transparency and helps in maintaining a standard for property transactions in the area.

Frequently asked questions

What is the current guideline value of Appa Rao Garden 1st Cross street?

The current guideline value of Appa Rao Garden 1st Cross street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 508 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 668% over the years.

What is the land classification for Appa Rao Garden 1st Cross street?

Appa Rao Garden 1st Cross street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Appa Rao Garden 1st Cross street?

The Sub Registrar Office for Appa Rao Garden 1st Cross street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.