Guideline Value for Appavu Street

Appavu Street guideline value

The current guideline value of Appavu Street in Alandur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - III.

How the guideline value of Appavu Street has changed

The guideline value for Appavu Street has seen several revisions over the years. In 2002, the value was Rs 377 per sq.ft, which increased to Rs 410 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and then it jumped to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. From 2017 to 2023, the value increased to Rs 4,000 per sq.ft, and the latest revision in 2024 set it at Rs 4,400 per sq.ft.

Between these revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 300% increase from 2007 to 2012. The overall change from 2002 to 2024 reflects an increase of 1,067%.

Guideline values in Alandur

Alandur village has a range of guideline values across its 40 streets under the Alandur SRO, with figures for 2024 ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median value is Rs 5,000 per sq.ft, placing Appavu Street's 2024 figure below this median.

• Asarkana Street*: Rs 4,400 per sq.ft (2024)
• Alikan Street: Rs 4,400 per sq.ft (2024)
• Bramin Street: Rs 5,000 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 5,000 per sq.ft (2024)
• Eashwaran Koil Street: Rs 5,000 per sq.ft (2024)
• Gandhi Market commer: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Appavu Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Appavu Street?

The Sub Registrar Office that covers Appavu Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Alandur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value recognized by the authorities.

When a property is registered, the guideline value helps determine the legal documentation and fees required for the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Appavu Street?

The current guideline value of Appavu 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 377 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,067% over this period.

What are the stamp duty rates for property in Appavu Street?

The stamp duty for property transactions in Appavu Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Appavu Street located?

The Sub Registrar Office covering Appavu Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Appavu Street?

Appavu Street is classified as Residential Class I Type - III, which indicates its designation for residential purposes in the area.