Guideline Value for Ayyappa Street

Ayyappa Street guideline value

The current guideline value of Ayyappa Street in Velachery village, under the Velacheri SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Ayyappa Street has changed

The guideline value for Ayyappa Street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently, it reached Rs 4,950 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for Ayyappa Street in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Ayyappa Street's 2024 figure above this median.

• Ayothiaya Colony Main Road: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony 3rd street: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony 2nd street: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony 1st street: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Ayothiaya Colony: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayyappa Street?

Ayyappa Street is covered by 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 Velachery

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that both parties comply with legal requirements.

Additionally, the guideline value is used by the government for various purposes, including taxation and land valuation. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ayyappa Street?

The current guideline value of Ayyappa Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,500 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Ayyappa Street?

Ayyappa Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Velacheri Sub Registrar Office covers Ayyappa Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Ayyappa Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 3,46,500.