Guideline Value for Appadurai Street

Appadurai Street guideline value

The current guideline value of Appadurai Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Appadurai Street has changed

As per the revisions available, there is no guideline value recorded for Appadurai Street in the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 8,000 per sq.ft in 2023, which increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

This change reflects the latest assessment of property values in the area, with the 2024 figure being the most current and applicable for transactions starting from July 2024.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Appadurai Street is below this median.

• Archbishop mathus Avenue: Rs 20,900 per sq.ft (2024)
• Anna Salai (Nandanam to Jemini Membalam): Rs 20,900 per sq.ft (2024)
• Arundadhi Nagar: Rs 6,100 per sq.ft (2024)
• Austin Nagar 1st Street: Rs 12,100 per sq.ft (2024)
• Austin Nagar 2nd Street: Rs 12,100 per sq.ft (2024)
• Avvai Shanmugam Salai (Lloyds Road): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Appadurai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total cost for these fees to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Appadurai Street?

The Sub Registrar Office that covers Appadurai Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor when registering property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per government standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. Understanding the guideline value can aid both buyers and sellers in making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Appadurai Street?

The current guideline value of Appadurai Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Appadurai Street was Rs 8,000 per sq.ft in 2023 and increased by 9% to Rs 8,700 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Appadurai Street?

Appadurai Street falls under the Residential Class I Type - III land classification, indicating its use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a property valued at Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 and a registration fee of Rs 1,74,000.

Where can I find the Sub Registrar Office for Appadurai Street?

The Sub Registrar Office covering Appadurai Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.