Guideline Value for Ayya Street

Ayya Street guideline value

The current guideline value of Ayya Street is Rs 7,700 per sq.ft. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ayya Street has changed

The guideline value for Ayya Street has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 7,000 per sq.ft, which was then increased by 10% to Rs 7,700 per sq.ft in the 2024 revision, effective from 1 July 2024.

In summary, the guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. This reflects a significant adjustment in the valuation of properties along Ayya Street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ayya Street's 2024 figure below this median.

• Avvai Shanmugam Salai (Lloyds Road): Rs 13,200 per sq.ft (2024)
• Babu Lane: Rs 7,700 per sq.ft (2024)
• Austin Nagar 2nd Street: Rs 12,100 per sq.ft (2024)
• Austin Nagar 1st Street: Rs 12,100 per sq.ft (2024)
• Babu Street: Rs 7,700 per sq.ft (2024)
• Bajooriars Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ayya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total charges to Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayya Street?

The Sub Registrar Office covering Ayya Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable charges. It is essential for both parties to understand that the duty is charged on either the guideline value or the sale price, depending on which is higher.

Frequently asked questions

What is the current guideline value of Ayya Street?

The current guideline value of Ayya Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ayya Street was Rs 7,000 per sq.ft in 2023 and increased to Rs 7,700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft, which is above the current guideline value of Ayya Street.

What are the stamp duty and registration fees for Ayya Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ayya Street located?

The Sub Registrar Office for Ayya Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.