Guideline Value for Ayappa Nagar Extension

Ayappa Nagar Extension guideline value

The current guideline value of Ayappa Nagar Extension, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Ayappa Nagar Extension has changed

The guideline value for Ayappa Nagar Extension has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. 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 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 this street in the years 2002, 2003, 2007, and 2012.

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, and Ayappa Nagar Extension's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Ayappa Nagar Extension

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 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.

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

Which Sub Registrar Office covers Ayappa Nagar Extension?

The Ayappa Nagar Extension falls under 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 calculating stamp duty and registration fees, which are mandatory for property transactions.

When registering a property, the guideline value is used to determine the applicable fees. Buyers should ensure they are aware of the current guideline value to accurately calculate the total costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Ayappa Nagar Extension?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, moving from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

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 Sub Registrar Office covers Ayappa Nagar Extension?

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

What is the land classification of Ayappa Nagar Extension?

Ayappa Nagar Extension is classified as Residential Class II Type - I, which indicates its suitability for residential development.