Guideline Value for Appu Flats

Appu Flats guideline value

The current guideline value of Appu Flats in Mugappair village, under the Konnur SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Appu Flats has changed

The guideline value for Appu Flats has undergone several revisions over the years. In 2002, the guideline value was Rs 543 per sq.ft, which increased to Rs 596 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,200 per sq.ft in 2007, and then to Rs 6,500 per sq.ft in 2012. However, it dropped to Rs 4,355 per sq.ft in 2017 before climbing back to Rs 6,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft.

Between the revisions, notable changes include a 9% increase from 2023 to 2024, and a substantial 49% increase from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it surged by 442% from 2007 to 2012. Additionally, the guideline value increased by 101% from 2003 to 2007, and by 10% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1208%.

Guideline values in Mugappair

Mugappair village features 224 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value for Appu Flats matches the median value of Rs 7,100 per sq.ft. Below are the guideline values for other streets in Mugappair:

• Anna Street: Rs 3,800 per sq.ft (2024)
• Anna Nagar West Extn: Rs 7,100 per sq.ft (2024)
• Annanagar West end Colony: Rs 7,100 per sq.ft (2024)
• Annanagar Extension 7th Sector: Rs 7,100 per sq.ft (2024)
• Asirvatham Nagar: Rs 5,500 per sq.ft (2024)
• Avvai Nagar: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Appu Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Appu Flats?

The Sub Registrar Office covering Appu Flats is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Mugappair. It serves as a reference point for determining the minimum value at which a property can be sold or purchased. Buyers and sellers must consider this value when negotiating the sale price, as the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, it is essential to ensure that the sale price reflects the guideline value to avoid any legal issues. Buyers should be aware that the guideline value may vary across different streets in Mugappair, impacting the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Appu Flats?

The current guideline value of Appu Flats is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 543 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1208% over the years.

What is the land classification for Appu Flats?

The land classification for Appu Flats is Residential Special Type - I.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for property in Appu Flats?

Stamp duty for property in Appu Flats is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty of Rs 4,97,000.