Guideline Value for Ayyasamy street*

Ayyasamy street* guideline value

The current guideline value of Ayyasamy street* is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village, under the Chennai North Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ayyasamy street* has changed

The guideline value for Ayyasamy street* has seen several revisions over the years. In the 2007 revision, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision brought the value up to Rs 5,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 5,500 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, there was a 10% increase. Overall, from 2007 to 2024, the guideline value has risen by 175%. The fluctuations in these revisions reflect changes in the property landscape over time.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, which is equal to the current guideline value of Ayyasamy street*.

• Ayyasamy2nd lane: Rs 5,500 per sq.ft (2024)
• Ayyasamy 1st lane: Rs 5,500 per sq.ft (2024)
• Ayyapa street: Rs 7,100 per sq.ft (2024)
• Azis Street: Rs 3,800 per sq.ft (2024)
• Bakers lane: Rs 4,900 per sq.ft (2024)
• Bakers street (Broadway): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyasamy street*

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total fees would be Rs 4,95,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayyasamy street*?

The Sub Registrar Office that covers Ayyasamy street* is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Muthialpet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue based on the property’s value as assessed by the guideline.

When selling a property, the guideline value also serves as a benchmark for pricing. It helps both buyers and sellers understand the expected value of the property based on current market assessments. This can facilitate negotiations and ensure that transactions are conducted fairly.

Frequently asked questions

What is the current guideline value of Ayyasamy street*?

The current guideline value of Ayyasamy street* is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024. Over the years, the value has fluctuated, with significant changes noted in 2017 and 2012.

What is the classification of Ayyasamy street*?

Ayyasamy street* is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Ayyasamy street*?

The Sub Registrar Office for Ayyasamy street* is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

How is stamp duty calculated for property in Ayyasamy street*?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.