Guideline Value for Appan Street

Appan Street guideline value

The current guideline value of Appan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Appan Street has changed

The guideline value for Appan Street has undergone several revisions over the years. The earliest recorded figure is from 2003, set at Rs 920 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, followed by a significant rise to Rs 4,000 per sq.ft in 2012. However, the value decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision saw an increase to Rs 4,000 per sq.ft, and the latest revision in 2024 brought it to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

There is no figure available for Appan Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 378%. The changes between revisions include a 30% increase from 2003 to 2007, a 233% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Appan Street.

• Appasamy Lane: Rs 4,900 per sq.ft (2024)
• Appasamy Mudali Street: Rs 4,900 per sq.ft (2024)
• Anumantha Rayan Koil Street: Rs 4,400 per sq.ft (2024)
• Appu Maistry Street: Rs 4,900 per sq.ft (2024)
• Arak Godown Street: Rs 3,800 per sq.ft (2024)
• Anthony Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Appan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that 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 Appan Street?

The Sub Registrar Office that covers Appan Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Muthiyalpet

The guideline value is a crucial factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers often use this value to negotiate the sale price, ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Appan Street?

The current guideline value of Appan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 378%.

What is the stamp duty for property in Appan Street?

The stamp duty for property in Appan Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 3,08,000.

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

The Sub Registrar Office for Appan Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What other streets are in Muthiyalpet?

Other streets in Muthiyalpet include Appasamy Lane, Appasamy Mudali Street, Anumantha Rayan Koil Street, Appu Maistry Street, Arak Godown Street, and Anthony Street, with varying guideline values.