Guideline Value for Ayya Street

Ayya Street guideline value

The current guideline value of Ayya Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Ayya Street has changed

Over the years, the guideline value of Ayya Street has seen significant changes. The earliest recorded figure is from the 2007 revision, which was Rs 1,200 per sq.ft. This increased to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 317%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The 2023 revision saw a notable increase to Rs 5,000 per sq.ft, followed by a further rise to the current rate of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for Ayya Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 358%.

Guideline values in Nungambakkam

Nungambakkam village comprises 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ayya Street's 2024 figure below that median.

• Aziz mulk 1st St.: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 2nd St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 3nd St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 4th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 5th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 6th St: Rs 10,400 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayya Street?

Ayya Street is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nungambakkam

The guideline value is a crucial factor during property registration in Nungambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must ensure that the sale price is not lower than the guideline value to avoid legal complications.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions as defined by the guideline values.

Frequently asked questions

What is the current guideline value of Ayya Street?

The current guideline value of Ayya Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 358%.

What is the median guideline value in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, placing Ayya Street's current value below this median.

What are the stamp duty rates applicable in Ayya Street?

The stamp duty rate for properties in Ayya Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Chennai Central Joint II Sub Registrar Office covers Ayya Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.