Guideline Value for Appadurai Naiken 1st Lane

Appadurai Naiken 1st Lane guideline value

The current guideline value of Appadurai Naiken 1st Lane is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chinna Sembaram Bakkam village under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Appadurai Naiken 1st Lane has changed

The guideline value for Appadurai Naiken 1st Lane has seen several revisions over the years. In 2003, the value was Rs 363 per sq.ft, which increased to Rs 600 per sq.ft in 2007. This was followed by a significant rise to Rs 1,300 per sq.ft in 2012, but it dropped to Rs 871 per sq.ft in 2017. The value then increased to Rs 1,300 per sq.ft in 2023, before reaching the current rate of Rs 1,400 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 286%. The register has no figure for the year 2002 for this street.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value is Rs 1,400 per sq.ft, which is equal to the guideline value of Appadurai Naiken 1st Lane.

• Appadurai Naiken 1st Street: Rs 1,400 per sq.ft (2024)
• Appadurai Naiken 2nd Lane: Rs 1,400 per sq.ft (2024)
• Appadurai Naiken 2nd Street: Rs 1,400 per sq.ft (2024)
• Appadurai Naiken 3rd Street: Rs 1,400 per sq.ft (2024)
• Appadurai Naiken Main Road: Rs 1,600 per sq.ft (2024)
• Artisan Shanmugam Road (Shanmunga Mudaliar Street): Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Appadurai Naiken 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. 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 more details.

Which Sub Registrar Office covers Appadurai Naiken 1st Lane?

The Appadurai Naiken 1st Lane falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is a critical factor in the registration of property transactions in Chinna Sembaram Bakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers must be aware of these costs to ensure they are prepared for the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Appadurai Naiken 1st Lane?

The current guideline value of Appadurai Naiken 1st Lane is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 363 per sq.ft in 2003 to Rs 1,400 per sq.ft in 2024, showing a significant increase over the years.

What is the median guideline value in Chinna Sembaram Bakkam?

The median guideline value in Chinna Sembaram Bakkam is Rs 1,400 per sq.ft, which is the same as the current value for Appadurai Naiken 1st Lane.

What are the stamp duty rates applicable in Appadurai Naiken 1st Lane?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Appadurai Naiken 1st Lane?

The Sub Registrar Office covering Appadurai Naiken 1st Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.