Guideline Value for Appavu Mudali Street

Appavu Mudali Street guideline value

The current guideline value of Appavu Mudali Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Appavu Mudali Street has changed

The guideline value for Appavu Mudali Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

The changes between the revisions highlight a notable increase overall. From the 2007 revision to the current 2024 figure, there has been a substantial increase of 313%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for Appavu Mudali Street is below this median.

• Anna Street: Rs 3,300 per sq.ft (2024)
• Asarkana Lane: Rs 3,300 per sq.ft (2024)
• Ashokan Street: Rs 2,750 per sq.ft (2024)
• Azarkahana 1st Lane: Rs 3,300 per sq.ft (2024)
• Azarkahana Cross Street: Rs 3,300 per sq.ft (2024)
• Azarkahana Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Appavu Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appavu Mudali Street?

The Sub Registrar Office that covers Appavu Mudali Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is often used as a benchmark to ensure that the transaction is registered at an appropriate value. This helps in maintaining transparency in property transactions and ensures that the government receives the correct amount of revenue from stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Appavu Mudali Street?

The current guideline value of Appavu Mudali Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the land classification for Appavu Mudali Street?

Appavu Mudali Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Appavu Mudali Street?

The Sub Registrar Office for Appavu Mudali Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Appavu Mudali Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at the rate of 7%.