Guideline Value for Ayyappa Nagar

Ayyappa Nagar guideline value

The current guideline value of Ayyappa Nagar, located in Chitlapakkam village under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ayyappa Nagar has changed

The guideline value for Ayyappa Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, and Ayyappa Nagar's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Babu Cross Street: Rs 2,750 per sq.ft (2024)
• Babu Street: Rs 2,750 per sq.ft (2024)
• Bagawath Singh Street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 3rd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 2nd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 1st street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ayyappa Nagar?

The Sub Registrar Office that covers Ayyappa Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable fees and duties, which are based on the higher of the guideline value or the actual sale price. This ensures transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Ayyappa Nagar?

The current guideline value of Ayyappa Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 3,000 per sq.ft in 2012, decreasing to Rs 2,010 per sq.ft in 2017, and rising to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 set it at Rs 3,300 per sq.ft.

What is the land classification of Ayyappa Nagar?

Ayyappa Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property in Ayyappa Nagar?

The stamp duty for property transactions in Ayyappa Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ayyappa Nagar?

The Sub Registrar Office covering Ayyappa Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.