Guideline Value for Appadurai Naiken 1st Street

Appadurai Naiken 1st Street guideline value

The current guideline value for Appadurai Naiken 1st Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chinna Sembaram Bakkam village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

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

Over the years, the guideline value of Appadurai Naiken 1st Street has seen significant changes. The earliest recorded revision is from 2003, where the value was Rs 363 per sq.ft. In 2007, it increased to Rs 600 per sq.ft, marking a rise of 65%. The following revision in 2012 saw the value remain at Rs 1,300 per sq.ft, an increase of 117% from the previous figure. However, in 2017, the value dropped to Rs 871 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought it back up to Rs 1,300 per sq.ft, and the latest 2024 revision set the value at Rs 1,400 per sq.ft, which is an 8% increase from 2023.

Overall, from 2003 to 2024, the guideline value has increased by 286%. It is important to note that 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 that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value for these streets is Rs 1,400 per sq.ft, which is equal to the guideline value of Appadurai Naiken 1st Street.

• Appadurai Naiken 1st Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to 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, totaling Rs 1,26,000. It is important to note that the 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 Appadurai Naiken 1st Street?

The Sub Registrar Office that covers Appadurai Naiken 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Chinna Sembaram Bakkam. It serves as the minimum value at which properties can be registered, ensuring that the transactions are conducted at a fair baseline value as determined by the government. Buyers and sellers must consider this value to avoid any discrepancies during the registration process.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Appadurai Naiken 1st Street 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 significantly from Rs 363 per sq.ft in 2003 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What is the land classification for Appadurai Naiken 1st Street?

The land classification for Appadurai Naiken 1st Street is Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for properties in Appadurai Naiken 1st Street.