Guideline Value for Ayothiaya Colony 3rd street

Ayothiaya Colony 3rd street guideline value

The current guideline value of Ayothiaya Colony 3rd street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ayothiaya Colony 3rd street has changed

The guideline value for Ayothiaya Colony 3rd street has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, marking a significant rise of 133%. However, by 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,850 per sq.ft in 2024, an increase of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 157%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Ayothiaya Colony 3rd street's 2024 figure below this median.

• Ayothiaya Colony 2nd street: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony Main Road: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony 1st street: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony: Rs 3,850 per sq.ft (2024)
• Ayyappa Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Ayothiaya Colony 3rd street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ayothiaya Colony 3rd street?

The Ayothiaya Colony 3rd 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 Velachery

The guideline value is an essential factor during property registration in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ayothiaya Colony 3rd street?

The current guideline value of Ayothiaya Colony 3rd street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What are the stamp duty and registration fees for property in Ayothiaya Colony 3rd street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, resulting in stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Ayothiaya Colony 3rd street?

The Velacheri Sub Registrar Office handles registrations for Ayothiaya Colony 3rd street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Ayothiaya Colony 3rd street?

Ayothiaya Colony 3rd street is classified as Residential Class II Type - III, indicating its suitability for residential development.