Guideline Value for Ayappa Nagar 7th Street

Ayappa Nagar 7th Street guideline value

The current guideline value of Ayappa Nagar 7th 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 7th Street has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, 2007, and 2012. 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 a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, placing Ayappa Nagar 7th Street's 2024 figure below this median.

• Ayappa Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Ayappa Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ayappa Nagar 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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 7th Street?

The Sub Registrar Office covering Ayappa Nagar 7th 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 is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Ayappa Nagar 7th Street?

The current guideline value of Ayappa Nagar 7th 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 seen significant changes, 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 is the stamp duty for property in Ayappa Nagar 7th Street?

The stamp duty for property in Ayappa Nagar 7th Street is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

Which Sub Registrar Office handles registrations for Ayappa Nagar 7th Street?

The Velacheri Sub Registrar Office handles registrations for Ayappa Nagar 7th Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values. For instance, Ayappa Nagar 6th Street has a guideline value of Rs 2,750 per sq.ft, while several other streets, including Ayappa Nagar 8th, 5th, 9th, and 4th Streets, share the same value of Rs 2,200 per sq.ft.