Guideline Value for Ayiram Street

Ayiram Street guideline value

The current guideline value of Ayiram Street is Rs 2,750 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 I Type - III.

How the guideline value of Ayiram Street has changed

In the 2017 revision, the guideline value for Ayiram Street was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant change of 49%. The current guideline value of Rs 2,750 per sq.ft from the 2024 revision reflects a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. 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 is Rs 2,750 per sq.ft, which is equal to the current value of Ayiram Street.

• Ayappa Nagar Extension: Rs 2,200 per sq.ft (2024)
• 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)
• Ayappa Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ayiram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ayiram Street?

Ayiram Street 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 information.

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

The guideline value is an essential factor during property registration in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are crucial costs associated with property transactions. It is important for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ayiram Street?

The current guideline value of Ayiram Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ayiram Street has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and now to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the registration fees for properties in Ayiram Street?

For a property valued at the current guideline value of Rs 2,750 per sq.ft, the registration fees include a stamp duty of 7% and a registration fee of 2%. For a 1,000 sq.ft plot, this totals to Rs 2,47,500.

Which Sub Registrar Office handles Ayiram Street?

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

What is the land classification for Ayiram Street?

Ayiram Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes within the region.