Guideline Value for Ayappa Nagar 5th Street

Ayappa Nagar 5th Street guideline value

The current guideline value of Ayappa Nagar 5th 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 5th Street has changed

The guideline value for Ayappa Nagar 5th Street has seen significant changes over the years. The 2017 revision set the value at 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 2024 revision has further raised the value to 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%. It is important to note that 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, with guideline values 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 2024 figure for Ayappa Nagar 5th Street below this median.

• Ayappa Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Ayappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ayappa Nagar 5th 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. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ayappa Nagar 5th Street?

The Sub Registrar Office that covers Ayappa Nagar 5th 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ayappa Nagar 5th Street?

The current guideline value of Ayappa Nagar 5th 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 a total increase of 64% over this period.

What is the classification of Ayappa Nagar 5th Street?

Ayappa Nagar 5th Street is classified as Residential Class II Type - I under the Velacheri SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Ayappa Nagar 5th Street?

The registration for Ayappa Nagar 5th Street is handled by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.