Guideline Value for Asiriyar Street

Asiriyar Street guideline value

The current guideline value of Asiriyar Street in Ayappakkam village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of Asiriyar Street has changed

Over the years, the guideline value of Asiriyar Street has undergone several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a 100% rise. However, the value then decreased to Rs 536 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised it to Rs 800 per sq.ft, and the latest revision in 2024 has further increased it to Rs 880 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a significant increase of 120% in the guideline value per sq.ft.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. Asiriyar Street's 2024 guideline value of Rs 880 per sq.ft is below this median.

• Ayyapakkam Main Road: Rs 1,300 per sq.ft (2024)
• Ayyappa Nagar: Rs 1,700 per sq.ft (2024)
• Ayyappa Nagar Anex: Rs 1,700 per sq.ft (2024)
• Arul Migu Magalikshmi Avenue: Rs 1,300 per sq.ft (2024)
• Arputham City: Rs 1,700 per sq.ft (2024)
• Apparna Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Asiriyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration would be Rs 79,200. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Asiriyar Street?

The Sub Registrar Office that covers Asiriyar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which may impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Asiriyar Street?

The current guideline value of Asiriyar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registrations for Asiriyar Street?

The Ambattur Sub Registrar Office handles property registrations for Asiriyar Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties, impacting the calculation of stamp duty and registration fees during transactions.