Guideline Value for Appasamy street *

Appasamy street * guideline value

The current guideline value of Appasamy street * is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village, under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Appasamy street * has changed

The guideline value for Appasamy street * has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 905 per sq.ft. This increased to Rs 1,645 per sq.ft in 2003, marking an 82% rise. The value then decreased slightly to Rs 1,500 per sq.ft in 2007, reflecting a 9% drop. A significant increase occurred in 2012, where the value rose to Rs 4,500 per sq.ft, a 200% increase from the previous revision. However, it then decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the guideline value increased to Rs 4,500 per sq.ft in 2023, and then to Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 441%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Appasamy street * below this median.

• Appasamy lane +: Rs 4,900 per sq.ft (2024)
• Appupillai Lane @ Appu Maistry Street: Rs 3,800 per sq.ft (2024)
• Armenian 1st segment (N.S.C.Bose road to Mookar Nallamuthu Street): Rs 16,500 per sq.ft (2024)
• Armenian 2nd segment (from Mookar Nallamuthu Street to Post Office street Junction): Rs 15,900 per sq.ft (2024)
• Armenian 3rd Segment (Post Office to Mannady Street Junction): Rs 14,800 per sq.ft (2024)
• Armenian segment 4th segment (Mannady to Ibrahim Street): Rs 14,800 per sq.ft (2024)

Stamp duty and registration fee for property in Appasamy street *

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Appasamy street *?

The Sub Registrar Office that covers Appasamy street * is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthialpet. It is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is assessed to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property transactions and ensures that all parties involved are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Appasamy street *?

The current guideline value of Appasamy street * is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 905 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 441% over this period.

What are the stamp duty and registration fees for properties in Appasamy street *?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles registrations for Appasamy street *?

The Chennai North Joint I Sub Registrar Office handles registrations for Appasamy street *, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the applicable stamp duty and registration fees during property transactions. It ensures that the transaction is recorded at a fair value and maintains transparency in the process.