Honor Listed in undergrad. Should it go on the CV for grad applications ? I was placed on the "Honor list" by the university during my undergrad study several times. Students are placed according to their GPAs. 

My question, should this be mentioned in the awards and honors section in the CV especially if this CV is forwarded to graduate study somewhere else ? How would they look at it ? (Good, Bad, We really don't care and you wasted our time).
Unless you're under a tight space constraint, there's no harm in having a bullet point in awards and honors saying "N times on Undergraduate Honors List (top x% of students in a year)" or whatever is the correct information.  It's slightly different than GPA because GPA is sum total and this is per year. Make sure you have something like the parentheses explaining what it means, because nobody outside your institution will know.  Some readers may notice it and have a small positive reaction; some won't care or will find it redundant, but if it's just one bullet point and you don't have a CV full of filler, then they probably won't mind either.