Guideline Value for Ayappa Nagar 11th Street

Ayappa Nagar 11th Street guideline value

The current guideline value of Ayappa Nagar 11th 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 11th Street has changed

The guideline value for Ayappa Nagar 11th Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 established the current value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, 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, making the current value of Ayappa Nagar 11th Street below this median.

• Ayappa Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar: 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 11th 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 amount to 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 11th Street?

The Ayappa Nagar 11th Street falls under the jurisdiction of 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

The guideline value is a critical factor in property transactions in Madipakkam-1. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees. Buyers and sellers must consider this value when negotiating sale prices to comply with legal requirements.

During registration, the guideline value serves as a benchmark for calculating fees. It is essential for both parties to be aware of the current guideline value to avoid disputes and ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Ayappa Nagar 11th Street?

The current guideline value of Ayappa Nagar 11th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current rate. The most significant changes occurred between 2017 to 2023 and 2023 to 2024, with increases of 49% and 10%, respectively.

What are the other streets in Madipakkam-1 with the same guideline value?

Several other streets in Madipakkam-1 also have a guideline value of Rs 2,200 per sq.ft for 2024, including Ayappa Nagar 10th Street, Ayappa Nagar 12th Street, Ayappa Nagar, Ayappa Nagar 13th Street, Ayappa Nagar 14th Street, and Ayappa Nagar 15th Street.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

Where can I find my Sub Registrar Office?

The Velacheri Sub Registrar Office covers Ayappa Nagar 11th Street. You can find it at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more details, you can visit the provided link to find your SRO.