Guideline Value for Ayyappa Nagar

Ayyappa Nagar guideline value

The current guideline value of Ayyappa Nagar in Ayappakkam village, under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Ayyappa Nagar has changed

The guideline value for Ayyappa Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 120 per sq.ft. This figure increased to Rs 400 per sq.ft in 2007, marking a substantial rise of 233%. The value then surged to Rs 1,600 per sq.ft in 2012, reflecting a 300% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,072 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 1,600 per sq.ft, which then increased to Rs 1,700 per sq.ft in 2024, a rise of 6%.

Overall, from 2003 to 2024, the guideline value has increased by 1,317%. The register has no figure for the year 2002 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median of Rs 1,300 per sq.ft. Ayyappa Nagar's 2024 figure is above this median.

• Ayyappakkam Main Road: Rs 1,300 per sq.ft (2024)
• Ayyappa Nagar Anex: Rs 1,700 per sq.ft (2024)
• Asiriyar Street: Rs 880 per sq.ft (2024)
• Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Arul Migu Magalikshmi Avenue: Rs 1,300 per sq.ft (2024)
• Arputham City: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyappa Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, leading to a total of Rs 1,53,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Ayyappa Nagar?

The Sub Registrar Office that covers Ayyappa Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayappakkam. It is the minimum value set by the government for property transactions, ensuring that properties are not sold below a certain price. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of a property.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Ayyappa Nagar?

The current guideline value of Ayyappa Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 120 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,317%.

What are the stamp duty and registration fees in Ayyappa Nagar?

For a property valued at Rs 17,00,000, the stamp duty is Rs 1,19,000, and the registration fee is Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Ayyappa Nagar?

The Ambattur Sub Registrar Office handles registrations for Ayyappa Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the land classification of Ayyappa Nagar?

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