Guideline Value for Appavu Street

Appavu Street guideline value

The current guideline value of Appavu Street in Mudichur village is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Appavu Street has changed

The guideline value for Appavu Street has seen several revisions over the years. In the 2012 revision, the value was Rs 1,100 per sq.ft. This figure remained unchanged until the 2017 revision, when it decreased to Rs 737 per sq.ft, marking a 33% decline. The value then increased significantly to Rs 1,100 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,210 per sq.ft in the 2024 revision, which reflects a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Appavu Street is below this median.

• Arasan Avenue: Rs 2,750 per sq.ft (2024)
• A.N.Vasudevan Nagar: Rs 2,440 per sq.ft (2024)
• Anna Street: Rs 3,630 per sq.ft (2024)
• Arumuga Nayinar Colony: Rs 2,200 per sq.ft (2024)
• Anna Nagar: Rs 2,200 per sq.ft (2024)
• Annai Nagar: Rs 2,200 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 1,210 per sq.ft, the guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Appavu Street?

The Sub Registrar Office covering Appavu Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial during property transactions in Mudichur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate applicable duties and fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Appavu Street?

The current guideline value of Appavu Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Appavu Street?

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

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

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

Which office handles the registration for Appavu Street?

The Padappai Sub Registrar Office handles the registration for Appavu Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.