Guideline Value for Ayyavu Colony Kambar Nagar Extn.

Ayyavu Colony Kambar Nagar Extn. guideline value

The current guideline value of Ayyavu Colony Kambar Nagar Extn. is Rs 3,300 per sq.ft, effective from 1 July 2024. This locality falls under Virugambakkam village and is classified as Residential Class IV Type - I. The relevant Sub Registrar Office (SRO) for this area is Virugambakkam SRO.

How the guideline value of Ayyavu Colony Kambar Nagar Extn. has changed

The guideline value for Ayyavu Colony Kambar Nagar Extn. has seen several revisions over the years. In 2007, the value was set at Rs 750 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Notably, the guideline value for this street has not been recorded in the register for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry 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. Ayyavu Colony Kambar Nagar Extn.'s 2024 figure is below this median.

• Ayyavoo Colony Kambar Nagar: 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 Ayyavu Colony Kambar Nagar Extn.

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 and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayyavu Colony Kambar Nagar Extn.?

The Sub Registrar Office that covers Ayyavu Colony Kambar Nagar Extn. is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to price their properties competitively.

Frequently asked questions

What is the current guideline value of Ayyavu Colony Kambar Nagar Extn.?

The current guideline value of Ayyavu Colony Kambar Nagar Extn. 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 from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Ayyavu Colony Kambar Nagar Extn.?

The Virugambakkam Sub Registrar Office is responsible for Ayyavu Colony Kambar Nagar Extn., located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of properties. It ensures that appropriate stamp duty and registration fees are collected during property transactions.