Guideline Value for AYYAVOO COLONY -LAKSHMI AMMAL STREET

Ayyavoo Colony -Lakshmi Ammal Street guideline value

The current guideline value for Ayyavoo Colony -Lakshmi Ammal Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Ayyavoo Colony -Lakshmi Ammal Street has changed

The guideline value for Ayyavoo Colony -Lakshmi Ammal Street has seen several revisions over the years. The earliest recorded value was Rs 1,350 per sq.ft in 2007, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this value then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value rose to Rs 6,000 per sq.ft in 2023 and is now set at Rs 6,600 per sq.ft from July 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 is a further increase of 10%. Notably, the overall change from 2007 to 2024 reflects an increase of 389% in the guideline value per sq.ft.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Ayyavoo Colony -Lakshmi Ammal Street above this median.

• Ayyavoo Colony -Krishnaveni Ammal Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony -Navaneethammal Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony -Kannappan Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony -Parthasarathy Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony -Pudu Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony -Jayammal Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyavoo Colony -Lakshmi Ammal Street

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 fees together to Rs 5,94,000. 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 Ayyavoo Colony -Lakshmi Ammal Street?

The Sub Registrar Office that covers Ayyavoo Colony -Lakshmi Ammal Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value as it directly impacts the costs associated with the registration process. Buyers and sellers should ensure they are informed about the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Ayyavoo Colony -Lakshmi Ammal Street?

The current guideline value for Ayyavoo Colony -Lakshmi Ammal Street 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 1,350 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024. Notable changes include an increase of 344% from 2007 to 2012 and a decrease to Rs 4,020 per sq.ft in 2017 before rising again to Rs 6,600 in 2024.

What is the land classification for Ayyavoo Colony -Lakshmi Ammal Street?

The land classification for Ayyavoo Colony -Lakshmi Ammal Street is Residential Special Type - I. This classification indicates the intended use of the land in this area.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles registration for properties in Ayyavoo Colony -Lakshmi Ammal Street.

How is the stamp duty calculated for properties in Ayyavoo Colony?

Stamp duty for properties in Ayyavoo Colony is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the same criteria.