Guideline Value for Ayappa Nagar 10th Street

Ayappa Nagar 10th Street guideline value

The current guideline value for Ayappa Nagar 10th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ayappa Nagar 10th Street has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Ayappa Nagar 10th Street's 2024 figure below that median.

• Ayappa Nagar: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 15th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ayappa Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ayappa Nagar 10th Street?

The Sub Registrar Office that covers Ayappa Nagar 10th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

When buying or selling property in Madipakkam-1, the guideline value is used to determine the stamp duty and registration fees applicable for the transaction. It is essential to know that the duty is calculated based on the higher of the guideline value or the actual sale price of the property.

This ensures that the government receives the appropriate revenue from property transactions, and it is crucial for both buyers and sellers to be aware of these values during the registration process.

Frequently asked questions

What is the current guideline value for Ayappa Nagar 10th Street?

The current guideline value for Ayappa Nagar 10th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, rising from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft.

What is the guideline value for other streets in Madipakkam-1?

Other streets in Madipakkam-1 under the Velacheri SRO have a guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft.

What are the stamp duty and registration fees for a property in Ayappa Nagar 10th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Ayappa Nagar 10th Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.