Guideline Value for Appupillai Lane @ Appu Maistry Street

Appupillai Lane @ Appu Maistry Street guideline value

The current guideline value of Appupillai Lane @ Appu Maistry Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Appupillai Lane @ Appu Maistry Street has changed

Over the years, the guideline value for Appupillai Lane @ Appu Maistry Street has seen several revisions. The earliest available figure is from 2007, where the guideline value was Rs 1,200 per sq.ft. This value increased significantly by 192% to Rs 3,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 2,345 per sq.ft. The value then increased by 49% to Rs 3,500 per sq.ft in 2023, and subsequently rose by 9% to the current value of Rs 3,800 per sq.ft in 2024.

The register has no figures for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 217%.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Appupillai Lane @ Appu Maistry Street is below this median.

• Appasamy street *: Rs 4,900 per sq.ft (2024)
• Appasamy lane +: Rs 4,900 per sq.ft (2024)
• Armenian 1st segment (N.S.C.Bose road to Mookar Nallamuthu Street): Rs 16,500 per sq.ft (2024)
• Armenian 2nd segment (from Mookar Nallamuthu Street to Post Office street Junction): Rs 15,900 per sq.ft (2024)
• Armenian 3rd Segment (Post Office to Mannady Street Junction): Rs 14,800 per sq.ft (2024)
• Armenian segment 4th segment(Mannady to Ibrahim Street): Rs 14,800 per sq.ft (2024)

Stamp duty and registration fee for property in Appupillai Lane @ Appu Maistry Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. 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 Appupillai Lane @ Appu Maistry Street?

The Sub Registrar Office that covers Appupillai Lane @ Appu Maistry Street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price. The higher of the two is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Appupillai Lane @ Appu Maistry Street?

The current guideline value of Appupillai Lane @ Appu Maistry Street is Rs 3,800 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 1,200 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 217% over the years.

What is the land classification for Appupillai Lane @ Appu Maistry Street?

The land classification for Appupillai Lane @ Appu Maistry Street is Residential Class III Type - II.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Appupillai Lane @ Appu Maistry Street?

The Chennai North Joint I Sub Registrar Office handles registrations for Appupillai Lane @ Appu Maistry Street, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.