Guideline Value for AYYAVU STREET

Ayyavu Street guideline value

The current guideline value of Ayyavu Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ayyavu Street has changed

The guideline value for Ayyavu Street has undergone several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023 before reaching the current value of Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Ayyavu Street's 2024 figure of Rs 4,400 per sq.ft is below this median.

• Babu Lane: Rs 5,500 per sq.ft (2024)
• Babu Street: Rs 5,500 per sq.ft (2024)
• Avadhanam Pappaiyar Street & Road: Rs 7,700 per sq.ft (2024)
• Avadhanam Pappaiyar 2nd Lane: Rs 6,500 per sq.ft (2024)
• Avadhanam Pappaiyar 1st Lane: Rs 6,500 per sq.ft (2024)
• Bajanai Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyavu Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 more details.

Which Sub Registrar Office covers Ayyavu Street?

Ayyavu Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a reference point for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that the transaction is documented accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ayyavu Street?

The current guideline value of Ayyavu Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 300% over this period.

What is the land classification for Ayyavu Street?

Ayyavu Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Ayyavu Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Ayyavu Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Ayyavu Street.