Guideline Value for Appa Rao Garden 2nd cross Street

Appa Rao Garden 2nd cross Street guideline value

The current guideline value of Appa Rao Garden 2nd cross Street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Appa Rao Garden 2nd cross Street has changed

The guideline value for Appa Rao Garden 2nd cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 508 per sq.ft, which increased to Rs 560 per sq.ft in 2003. Following that, there was a substantial rise to Rs 1,500 per sq.ft in 2007. The value then fluctuated, reaching Rs 5,800 per sq.ft in 2012, before dropping to Rs 3,886 per sq.ft in 2017. The guideline value saw a notable increase to Rs 5,800 per sq.ft in 2023, and most recently, it has been revised to Rs 6,300 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,140%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Egmore

In the Egmore village, there are 465 streets under the Periamet SRO that carry 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 2nd cross Street is below this median.

• Appa Rao Garden 1st Cross street: Rs 3,900 per sq.ft (2024)
• Appa Rao Garden 3rd Cross street: Rs 3,900 per sq.ft (2024)
• Appa Rao Garden: Rs 7,100 per sq.ft (2024)
• Appa Rao Garden 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Appa Rao Gardeb 6th 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 2nd cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would amount to Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000. Together, the total cost for these fees would be Rs 5,67,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appa Rao Garden 2nd cross Street?

The Sub Registrar Office that covers Appa Rao Garden 2nd 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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When a property is sold, the guideline value is assessed to determine the applicable fees. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Appa Rao Garden 2nd cross Street?

The current guideline value for Appa Rao Garden 2nd cross Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 508 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, marking an overall increase of 1,140% over this period.

What are the stamp duty and registration fees for property in Appa Rao Garden 2nd cross Street?

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Which office handles registrations for Appa Rao Garden 2nd cross Street?

The Periamet Sub Registrar Office handles registrations for Appa Rao Garden 2nd cross Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Appa Rao Garden 2nd cross Street?

The land classification for Appa Rao Garden 2nd cross Street is Residential Class II Type - II.