Guideline Value for Appar Street

Appar Street guideline value

The current guideline value of Appar Street in Chennimalai village, under the Chennimalai SRO, is Rs 510 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Appar Street has changed

The guideline value of Appar Street has seen several revisions over the years. In 2002, the value was Rs 300 per sq.ft, which decreased to Rs 172 per sq.ft in 2003. The value then increased to Rs 175 per sq.ft in 2007, followed by a significant rise to Rs 450 per sq.ft in 2012. However, it decreased to Rs 301 per sq.ft in 2017. The value then saw a substantial increase to Rs 450 per sq.ft in 2023, and finally, it rose to Rs 510 per sq.ft in the 2024 revision.

The changes between these revisions are noteworthy. From 2002 to 2024, the overall increase is 70%. The value increased by 2% from 2003 to 2007, then jumped by 157% from 2007 to 2012. After a decline of 33% from 2012 to 2017, the value rose by 50% from 2017 to 2023, and finally, there was a 13% increase from 2023 to 2024.

Guideline values in Chennimalai

In Chennimalai, there are 71 streets under the Chennimalai SRO that carry a 2024 guideline value, ranging from Rs 225 to Rs 920 per sq.ft. The median guideline value for these streets is Rs 340 per sq.ft, placing Appar Street's 2024 figure above this median.

• Appai Chettiar Street: Rs 340 per sq.ft (2024)
• Arachaloor Road: Rs 920 per sq.ft (2024)
• Arijana Colony 2: Rs 225 per sq.ft (2024)
• Agragara Street: Rs 340 per sq.ft (2024)
• Cheran Street: Rs 510 per sq.ft (2024)
• Chidambaram pillai Street: Rs 340 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 510 per sq.ft, the total guideline value amounts to Rs 5,10,000. The stamp duty at 7% would be Rs 35,700, and the registration fee at 2% would be Rs 10,200, making the total cost for these fees Rs 45,900. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Appar Street?

The Sub Registrar Office covering Appar Street is the Chennimalai Sub Registrar Office, located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode - 638051, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Chennimalai. When buying or selling property, 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 in the official registers.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Appar Street?

The current guideline value of Appar Street is Rs 510 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 300 per sq.ft in 2002 to Rs 510 per sq.ft in 2024, reflecting an overall increase of 70% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 45,900, based on the current rates.

Which Sub Registrar Office covers Appar Street?

The Chennimalai Sub Registrar Office covers Appar Street, located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode - 638051, Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded accurately in the official registers.