Guideline Value for Appu Naicken St

Appu Naicken St guideline value

The current guideline value of Appu Naicken St is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village under the Chennai Central Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Appu Naicken St has changed

The guideline value for Appu Naicken St has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012, marking a 233% rise. However, the value decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, followed by an increase to Rs 6,600 per sq.ft in 2024, reflecting a 10% increase.

It is noteworthy that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, making the 2024 value for Appu Naicken St below this median.

• Annasalai: Rs 20,900 per sq.ft (2024)
• Arundathi Nagar: Rs 3,300 per sq.ft (2024)
• Avenue Road: Rs 11,500 per sq.ft (2024)
• Ayya Street: Rs 5,500 per sq.ft (2024)
• Anderson Road: Rs 13,200 per sq.ft (2024)
• Aziz mulk 1st St.,: Rs 10,400 per sq.ft (2024)

Stamp duty and registration fee for property in Appu Naicken St

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Appu Naicken St?

The Sub Registrar Office that covers Appu Naicken St is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property is sold, the guideline value is used to assess the minimum value for registration purposes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Appu Naicken St?

The current guideline value of Appu Naicken St is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 267%.

What is the land classification for Appu Naicken St?

Appu Naicken St is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Appu Naicken St?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft property, the total costs would be Rs 5,94,000.

Which Sub Registrar Office covers Appu Naicken St?

The Chennai Central Joint II Sub Registrar Office covers Appu Naicken St, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.