Guideline Value for Ayappa Nagar 9th Street

Ayappa Nagar 9th Street guideline value

The current guideline value of Ayappa Nagar 9th 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 is classified as Residential Class II Type - I.

How the guideline value of Ayappa Nagar 9th Street has changed

The guideline value for Ayappa Nagar 9th Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 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 1823 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 9th Street's 2024 figure below that median.

• Ayappa Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar Extension: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Ayappa Nagar 5th 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 9th 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 to Rs 1,98,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Ayappa Nagar 9th Street?

The Sub Registrar Office that covers Ayappa Nagar 9th 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 in the registration process when buying or selling property in Madipakkam-1. It helps determine the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are paid to the government.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ayappa Nagar 9th Street?

The current guideline value of Ayappa Nagar 9th 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 median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Ayappa Nagar 9th Street's 2024 figure being below this median.

What are the stamp duty and registration fees for Ayappa Nagar 9th Street?

For a 1,000 sq.ft plot at the current guideline value, the total 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 9th Street?

The Velacheri Sub Registrar Office handles the registration for Ayappa Nagar 9th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.