Guideline Value for Ayyappa Nagar

Ayyappa Nagar guideline value

The current guideline value of Ayyappa Nagar, located in Koyakbedu village under the AnnaNagar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Ayyappa Nagar has changed

The guideline value of Ayyappa Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. From 2017 to 2023, the value surged by 49% to reach Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft, reflecting a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Ayyappa Nagar.

• Ayyappa Nagar, 1st Main Road: Rs 4,400 per sq.ft (2024)
• Ayyappa Nagar, 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Ayyappa Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Ayyappa Nagar 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Ayyappa Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Ayyappa Nagar 4th Street: Rs 4,900 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ayyappa Nagar?

The Ayyappa Nagar area falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Koyakbedu. It serves as the basis 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 is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ayyappa Nagar?

The current guideline value of Ayyappa Nagar is Rs 4,400 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 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking a total increase of 193% over the years.

What are the other streets in Koyakbedu with their guideline values?

Other streets in Koyakbedu include Ayyappa Nagar, 1st Main Road and 2nd Main Road at Rs 4,400 per sq.ft, and Ayyappa Nagar 2nd, 3rd, and 4th Streets at Rs 4,900 per sq.ft for 2024.

What is the stamp duty rate for property in Ayyappa Nagar?

The stamp duty rate for property transactions in Ayyappa Nagar is 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 for Ayyappa Nagar is the AnnaNagar SRO, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.