Guideline Value for Ayappa Nagar 12th Street

Ayappa Nagar 12th Street guideline value

The current guideline value of Ayappa Nagar 12th 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, classified as Residential Class II Type - I.

How the guideline value of Ayappa Nagar 12th Street has changed

The guideline value of Ayappa Nagar 12th Street has undergone several revisions over the years. The oldest recorded revision is from 2017, with a guideline value of Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant change of 49%. The latest revision in 2024 saw the value rise to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Ayappa Nagar 12th Street's 2024 figure below that median.

• Ayappa Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar: 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 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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 together to Rs 1,98,000. It's important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayappa Nagar 12th Street?

The Sub Registrar Office that covers Ayappa Nagar 12th 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value assigned to the property.

When a property is registered, the guideline value is used to determine the applicable fees. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the actual sale price, which can significantly affect the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value of Ayappa Nagar 12th Street?

The current guideline value of Ayappa Nagar 12th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

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

Other streets in Madipakkam-1 with the same guideline value of Rs 2,200 per sq.ft in 2024 include Ayappa Nagar 11th Street, Ayappa Nagar 13th Street, Ayappa Nagar 10th Street, Ayappa Nagar 14th Street, Ayappa Nagar, and Ayappa Nagar 15th Street.

Where is the Velacheri Sub Registrar Office located?

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

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 applicable on the same basis.