Guideline Value for AYYAPPAN KOIL STREET

Ayyappan Koil Street guideline value

The current guideline value of Ayyappan Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ayyappan Koil Street has changed

The guideline value for Ayyappan Koil Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Ayyappan Koil Street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Ayyappan Koil Street.

• Avvai Street: Rs 1,320 per sq.ft (2024)
• Ashok Brindavan: Rs 2,200 per sq.ft (2024)
• Arun Nagar / Street: Rs 990 per sq.ft (2024)
• Arunachalam Avenue / Nagar: Rs 1,870 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyappan Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property.

Which Sub Registrar Office covers Ayyappan Koil Street?

The Sub Registrar Office that covers Ayyappan Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must be aware of the guideline value, as it affects the overall cost of the transaction. It is important to ensure that the sale price is not lower than the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Ayyappan Koil Street?

The current guideline value of Ayyappan Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Ayyappan Koil Street?

Ayyappan Koil Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Ayyappan Koil Street?

The Sub Registrar Office for Ayyappan Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Kolathuvancheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.