Guideline Value for Ayyavoo Colony Kambar Nagar

Ayyavoo Colony Kambar Nagar guideline value

The current guideline value of Ayyavoo Colony Kambar Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ayyavoo Colony Kambar Nagar has changed

Over the years, the guideline value of Ayyavoo Colony Kambar Nagar has seen significant changes. The guideline value began at Rs 587 per sq.ft in 2002, and by 2003, it increased to Rs 650 per sq.ft. The next revision in 2007 saw a substantial rise to Rs 750 per sq.ft, followed by a remarkable jump to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision brought it back up to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft.

The changes between each revision are notable. From 2002 to 2003, the increase was +11%. The rise from 2003 to 2007 was +15%, followed by a significant increase of +300% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. The jump from 2017 to 2023 was +49%, and finally, the increase from 2023 to 2024 is +10%. Overall, from 2002 to 2024, the guideline value has increased by +462%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Ayyavoo Colony Kambar Nagar's guideline value of Rs 3,300 per sq.ft is below this median.

• Ayyavu Colony Kambar Nagar Extn.: Rs 3,300 per sq.ft (2024)
• Azhagiri Samy Salai: Rs 8,800 per sq.ft (2024)
• Azhvar Thirunagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar 2nd Cross Street Main Road: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar Annex 1st Main Road: Rs 5,500 per sq.ft (2024)
• Azhvar Thirunagar Annex 2nd Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyavoo Colony Kambar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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, totaling 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ayyavoo Colony Kambar Nagar?

The Sub Registrar Office covering Ayyavoo Colony Kambar Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ayyavoo Colony Kambar Nagar?

The current guideline value of Ayyavoo Colony Kambar 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 changed significantly, starting from Rs 587 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +462% over the years.

What is the land classification for Ayyavoo Colony Kambar Nagar?

Ayyavoo Colony Kambar Nagar is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Ayyavoo Colony Kambar Nagar?

The Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the total stamp duty and registration fees would amount to Rs 2,97,000.