Guideline Value for Appa rao Garden

Appa rao Garden guideline value

The current guideline value of Appa rao Garden is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Appa rao Garden has changed

The guideline value for Appa rao Garden has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, this figure decreased to Rs 5,360 per sq.ft in 2017. The 2023 revision raised the value to Rs 8,000 per sq.ft, and the latest 2024 revision has set it at Rs 8,800 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Appa rao Garden's 2024 figure above this median.

• Arani Muthaiya Mudali Street: Rs 4,800 per sq.ft (2024)
• Arimuthu Maistry street: Rs 4,800 per sq.ft (2024)
• Ariyan Street: Rs 4,800 per sq.ft (2024)
• Arunachalam Lane: Rs 6,000 per sq.ft (2024)
• Arunchala Pillai Street: Rs 6,000 per sq.ft (2024)
• Ashirvathapuram 1st street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Appa rao Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty, charged at 7%, would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Together, the total cost for stamp duty and registration would be Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appa rao Garden?

The Sub Registrar Office that covers Appa rao Garden 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 Vepery

The guideline value is a critical factor in property transactions in Vepery. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that they are compliant with local regulations.

When purchasing property, the buyer must consider the guideline value as it directly impacts the overall cost of the transaction. It is essential for both parties to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Appa rao Garden?

The current guideline value of Appa rao Garden is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the land classification for Appa rao Garden?

Appa rao Garden is classified as Commercial Class I Type - I, indicating its commercial usage potential.

Where is the Periamet Sub Registrar Office located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Appa rao Garden?

Stamp duty for properties in Appa rao Garden is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 6,16,000 at the current guideline value.