Guideline Value for Appar Street

Appar Street guideline value

The current guideline value of Appar Street in Erukancherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Appar Street has changed

The guideline value for Appar Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,200 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The jump from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Appar Street is below this median.

• A.P. Arasu Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 5th Cross Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 4th Lane: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Lane: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Appar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appar Street?

The Sub Registrar Office that covers Appar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Erukancherry. It is the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is used to determine the official value of the property for the purpose of registration. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Appar Street?

The current guideline value of Appar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 in 2012 to Rs 1,340 in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,200 in 2024. There are no figures for the revisions in 2002, 2003, and 2007.

What are the stamp duty and registration fees for property in Appar Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles registrations for Appar Street?

The Madhavaram Sub Registrar Office handles registrations for Appar Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Appar Street?

Appar Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.