Guideline Value

Corporate

Guideline Value for Ayyappa Nagar/Lake View Road

₹2200/sq.ft.

The guideline value for Ayyappa Nagar/lake View Road in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ayyappa Nagar/lake View Road

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Ayyappa Nagar/Lake View Road guideline value

The current guideline value of Ayyappa Nagar/Lake View Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This area 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 Road has changed

Over the years, the guideline value for Ayyappa Nagar/Lake View Road has seen significant revisions. The 2017 revision set the value at Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2024, the overall increase in guideline value is 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, positioning Ayyappa Nagar/Lake View Road's 2024 figure below this median.

Stamp duty and registration fee for property in Ayyappa Nagar/Lake View Road

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 at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayyappa Nagar/Lake View Road?

The Ayyappa Nagar/Lake View Road area falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Madipakkam-1. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are in line with government regulations.

Buyers and sellers must be aware that the guideline value is crucial for the registration process, as it influences the total costs involved in property transactions. It is essential to check the latest guideline values to ensure compliance and accurate financial planning.

Frequently asked questions

What is the current guideline value of Ayyappa Nagar/Lake View Road?

The current guideline value of Ayyappa Nagar/Lake View Road 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. This represents a 64% increase over the seven-year period.

What is the land classification for Ayyappa Nagar/Lake View Road?

Ayyappa Nagar/Lake View Road is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for 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 in fees.

Which office handles registrations for Ayyappa Nagar/Lake View Road?

The Velacheri Sub Registrar Office manages registrations for Ayyappa Nagar/Lake View Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.