Guideline Value for Ayya Street

Ayya Street guideline value

The current guideline value of Ayya Street in Mylapore Part 2 village is Rs 7,700 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Ayya Street has changed

The guideline value for Ayya Street has seen 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 an increase from the previous revisions. The most recent revision in 2024 raised this value to Rs 7,700 per sq.ft, reflecting a change of +10% from the 2023 figure.

In summary, the guideline value has increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. This change indicates a notable adjustment in the valuation of properties on Ayya Street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area 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 property on Ayya Street measuring 1,000 sq.ft at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ayya Street?

The Sub Registrar Office that covers Ayya Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your specific SRO, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring transparency and fairness in property transactions.

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 has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a +10% increase. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have varying guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value in this area is Rs 8,800 per sq.ft, with Ayya Street's value below this median.

What are the fees associated with registering a property on Ayya Street?

The total fees for registering a property on Ayya Street would include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For a property valued at Rs 77,00,000, the total fees would be Rs 6,93,000.

Where can I find the Sub Registrar Office for Ayya Street?

The Sub Registrar Office for Ayya Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can use the provided link to find your specific SRO.