Guideline Value for Ayappa Nagar 1st Street

Ayappa Nagar 1st Street guideline value

The current guideline value of Ayappa Nagar 1st 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, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Ayappa Nagar 1st Street has changed

The guideline value for Ayappa Nagar 1st Street has seen several revisions over the years. The earliest available revision is from 2017, where the value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions from 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 value for these streets is Rs 2,750 per sq.ft, placing Ayappa Nagar 1st Street's 2024 figure below this median.

• Ayappa Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ayappa Nagar 1st 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 cost for these fees to Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Ayappa Nagar 1st Street?

The Sub Registrar Office that covers Ayappa Nagar 1st 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

The guideline value plays a crucial role in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers should be aware that the guideline value is set by the government and can vary from street to street.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values will determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and in compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Ayappa Nagar 1st Street?

The current guideline value of Ayappa Nagar 1st 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking 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 a guideline value of Rs 2,200 per sq.ft in 2024 include Ayappa Nagar 15th Street, Ayappa Nagar 2nd Street, Ayappa Nagar 14th Street, Ayappa Nagar 3rd Street, Ayappa Nagar 13th Street, and Ayappa Nagar 4th Street.

What fees should I expect when registering property in Ayappa Nagar 1st Street?

When registering property in Ayappa Nagar 1st Street, you should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ayappa Nagar 1st Street?

The Sub Registrar Office for Ayappa Nagar 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.