Guideline Value for Appadurai Naiken 2nd Lane

Appadurai Naiken 2nd Lane guideline value

The current guideline value of Appadurai Naiken 2nd Lane is Rs 1,400 per sq.ft, effective from 1 July 2024. This lane is located in Chinna Sembaram Bakkam village, under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Appadurai Naiken 2nd Lane has changed

The guideline value for Appadurai Naiken 2nd Lane has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 363 per sq.ft. This increased to Rs 600 per sq.ft in 2007, followed by a significant rise to Rs 1,300 per sq.ft in 2012. However, there was a decrease to Rs 871 per sq.ft in 2017. The value then rose to Rs 1,300 per sq.ft in 2023, and currently stands at Rs 1,400 per sq.ft from the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects an 8% increase. Notably, the increase from 2003 to 2024 is a substantial 286%, showcasing the changes in property valuation over the years.

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 guideline value for these streets is Rs 1,400 per sq.ft, placing Appadurai Naiken 2nd Lane at the median value for 2024.

• Appadurai Naiken 1st Street: Rs 1,400 per sq.ft (2024)
• Appadurai Naiken 2nd Street: Rs 1,400 per sq.ft (2024)
• Appadurai Naiken 1st Lane: 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 2nd Lane

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 or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appadurai Naiken 2nd Lane?

The Sub Registrar Office that covers Appadurai Naiken 2nd Lane 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 plays a crucial role during property registration in Chinna Sembaram Bakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Buyers and sellers should be aware that the guideline value is subject to periodic revisions, which can affect the costs associated with property transactions. It is advisable to check the latest figures before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Appadurai Naiken 2nd Lane?

The current guideline value of Appadurai Naiken 2nd 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 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 this period.

What is the median guideline value for streets in Chinna Sembaram Bakkam?

The median guideline value for streets in Chinna Sembaram Bakkam is Rs 1,400 per sq.ft, which is the same as the current guideline value for Appadurai Naiken 2nd Lane.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Appadurai Naiken 2nd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property with a guideline value of Rs 14,00,000, the stamp duty would be Rs 98,000 at a rate of 7%.