Guideline Value for Appas Maistry Street

Appas Maistry Street guideline value

The current guideline value of Appas Maistry Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - III.

How the guideline value of Appas Maistry Street has changed

The guideline value for Appas Maistry Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, followed by a decrease to Rs 2,680 per sq.ft in 2017. The 2023 revision saw a return to Rs 4,000 per sq.ft, and the latest revision in 2024 raised it to Rs 4,400 per sq.ft.

In terms of percentage changes, the value increased by 400% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. From 2023 to 2024, there was a 10% increase. Overall, from 2007 to 2024, the guideline value has risen by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Appas Maistry Street's current value below the median.

• Appasamy Street (Block 45): Rs 4,400 per sq.ft (2024)
• A.P.Patro Salai: Rs 6,600 per sq.ft (2024)
• Appar Street (Thiru Nagar): Rs 4,400 per sq.ft (2024)
• Appadurai Naicker Street (Block 80): Rs 4,400 per sq.ft (2024)
• Arcot Salai: Rs 11,000 per sq.ft (2024)
• Anugraha Colony: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Appas Maistry 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appas Maistry Street?

The Sub Registrar Office that covers Appas Maistry Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is sold, the sale price is compared to the guideline value, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Appas Maistry Street?

The current guideline value of Appas Maistry 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 from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

Where can I find the Sub Registrar Office for Appas Maistry Street?

The Sub Registrar Office for Appas Maistry Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the stamp duty rate for properties in Appas Maistry Street?

The stamp duty rate for properties in Appas Maistry Street is 7% of the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value affects property transactions by serving as a basis for calculating stamp duty and registration fees during the registration process. It ensures that the appropriate duties are paid based on the property's value.