Guideline Value for Ayyavu Grammi Street

Ayyavu Grammi Street guideline value

The current guideline value of Ayyavu Grammi Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ayyavu Grammi Street has changed

Over the years, the guideline value for Ayyavu Grammi Street has seen significant changes. In the 2007 revision, the value was Rs 800 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and finally, the most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year. The register has no figures for the years 2002 and 2003.

In summary, from the 2007 revision to the 2024 revision, the overall increase in the guideline value is 238%. The changes between the revisions indicate fluctuations, with the most significant rise occurring from 2017 to 2023, which saw an increase of 49%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with the median being Rs 2,700 per sq.ft. Ayyavu Grammi Street's 2024 guideline value is equal to this median.

• Azath Street: Rs 2,700 per sq.ft (2024)
• Badham Street: Rs 2,700 per sq.ft (2024)
• Bajanai Koil street: Rs 2,700 per sq.ft (2024)
• Ashok Street: Rs 2,700 per sq.ft (2024)
• Balaji street: Rs 2,700 per sq.ft (2024)
• Appulinga Vathiyar Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyavu Grammi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayyavu Grammi Street?

Ayyavu Grammi Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees 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 Ayyavu Grammi Street?

The current guideline value of Ayyavu Grammi Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision where the value was Rs 800 per sq.ft, it has increased to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

What is the land classification for Ayyavu Grammi Street?

Ayyavu Grammi Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Ayyavu Grammi Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles all registrations for properties in the area.