Guideline Value for Ayyappa Nagar Extn Sannathi Street

Ayyappa Nagar Extn Sannathi Street guideline value

The current guideline value of Ayyappa Nagar Extn Sannathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Ayyappa Nagar Extn Sannathi Street has changed

The guideline value for Ayyappa Nagar Extn Sannathi Street has seen significant changes over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, placing Ayyappa Nagar Extn Sannathi Street's 2024 figure below that median.

• Ayyappa Nagar Extn Lake View Street 13th Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar Extn 13th Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar/Lake View 14th Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar Extension/Lake View 13th Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar Lake View 4th Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar/Lake View Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyappa Nagar Extn Sannathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayyappa Nagar Extn Sannathi Street?

The Ayyappa Nagar Extn Sannathi 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a baseline for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which can influence negotiations and final sale prices. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ayyappa Nagar Extn Sannathi Street?

The current guideline value of Ayyappa Nagar Extn Sannathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a 64% overall increase.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Ayyappa Nagar Extn Sannathi Street's 2024 figure being below that median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Ayyappa Nagar Extn Sannathi Street?

The Velacheri Sub Registrar Office handles the registration for Ayyappa Nagar Extn Sannathi Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.