Guideline Value for AYYOTHIAMMAN KOIL STREET

Ayyothiamman Koil Street guideline value

The current guideline value of Ayyothiamman Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Ayyothiamman Koil Street has changed

The guideline value for Ayyothiamman Koil Street has undergone several revisions over the years. Starting from Rs 402 per sq.ft in 2002, it increased significantly to Rs 530 per sq.ft in 2007, then saw a substantial rise to Rs 2,300 per sq.ft in 2012. However, it dropped to Rs 1,541 per sq.ft in 2017 before climbing to Rs 2,300 per sq.ft in 2023. The current rate of Rs 2,500 per sq.ft reflects a 9% increase from the previous year.

Between the revisions, the changes were notable. From 2002 to 2007, the value increased by 32%, followed by a remarkable 334% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, from 2023 to 2024, it saw an increase of 9%. The register has no figure for Ayyothiamman Koil Street for the year 2003.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Ayyothiamman Koil Street's 2024 figure below that median.

• Avvai Street: Rs 2,500 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• ASIAD COLONY (7th Avenue): Rs 13,100 per sq.ft (2024)
• Balaji Nagar (Padi): Rs 4,400 per sq.ft (2024)
• A.P.PLOTS 9th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 8th STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyothiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. 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 Ayyothiamman Koil Street?

The Sub Registrar Office covering Ayyothiamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Padi. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the transaction process. The guideline value is assessed periodically, ensuring that it reflects the current market conditions.

When you buy or sell property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ayyothiamman Koil Street?

The current guideline value of Ayyothiamman Koil Street is Rs 2,500 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 402 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 522% over this period.

What are the stamp duty rates for properties in Ayyothiamman Koil Street?

The stamp duty rate for properties in Ayyothiamman Koil Street is 7%, charged on the higher of the guideline value or the sale price.

Which office do I need to visit for property registration in Ayyothiamman Koil Street?

The Villivakkam Sub Registrar Office is responsible for property registration in Ayyothiamman Koil Street. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Padi village?

The median guideline value in Padi village is Rs 3,800 per sq.ft, with Ayyothiamman Koil Street's current value being below this median.