Guideline Value for Ayappa Nagar

Ayappa Nagar guideline value

The current guideline value of Ayappa Nagar, 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 has changed

The guideline value for Ayappa Nagar has seen several revisions over the years. In 2017, the guideline value was Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 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%. 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 2024 guideline values 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's 2024 figure below this median.

• Ayappa Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Ayappa Nagar 15th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ayappa Nagar

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 to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ayappa Nagar?

The Sub Registrar Office that covers Ayappa Nagar 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 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 is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ayappa Nagar?

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

How much 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 are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1, such as Ayappa Nagar 10th, 11th, 12th, 13th, 14th, and 15th Streets, also have a guideline value of Rs 2,200 per sq.ft for 2024.

What is the stamp duty rate for properties in Ayappa Nagar?

The stamp duty rate for properties in Ayappa Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

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