Guideline Value for Ayyappa Nagar Lake View Street 14th Street

Ayyappa Nagar Lake View Street 14th Street guideline value

The current guideline value of Ayyappa Nagar Lake View Street 14th 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 Lake View Street 14th Street has changed

The guideline value for Ayyappa Nagar Lake View Street 14th Street has seen several revisions over the years. The oldest recorded revision is from 2017, with a guideline value of Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Ayyappa Nagar Lake View Street 14th Street's value below the median.

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

Stamp duty and registration fee for property in Ayyappa Nagar Lake View Street 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, totaling Rs 1,54,000, while the registration fee is 2%, amounting to Rs 44,000. Therefore, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that 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 Ayyappa Nagar Lake View Street 14th Street?

The Ayyappa Nagar Lake View Street 14th 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 Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. 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 stamp duty and registration fees. Buyers should be aware that these costs are 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 Ayyappa Nagar Lake View Street 14th Street?

The current guideline value of Ayyappa Nagar Lake View Street 14th 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 changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period. The most recent change was a 10% increase from Rs 2,000 per sq.ft in 2023.

What is the land classification for Ayyappa Nagar Lake View Street 14th Street?

Ayyappa Nagar Lake View Street 14th Street is classified as Residential Class II Type - I. This classification indicates the type of development permitted in the area.

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Velacheri Sub Registrar Office covers Ayyappa Nagar Lake View Street 14th Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information about your SRO through the provided link.