Guideline Value for Ayyavu Nagar 1st Street

Ayyavu Nagar 1st Street guideline value

The current guideline value of Ayyavu Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ayyavu Nagar 1st Street has changed

The guideline value for Ayyavu Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 93 per sq.ft. This increased to Rs 102 per sq.ft in 2003, marking a 10% rise. In 2007, the value surged to Rs 300 per sq.ft, reflecting a significant increase of 194%. The value then jumped dramatically to Rs 2,500 per sq.ft in 2012, a rise of 733%. However, it decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33% from the previous revision. The next revision in 2023 saw the value increase to Rs 2,500 per sq.ft, and finally, the latest revision in 2024 set the value at Rs 2,750 per sq.ft, a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 2,857%. There are no figures available for any other years for Ayyavu Nagar 1st Street in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, placing Ayyavu Nagar 1st Street's 2024 value below this median.

• Ayyavu Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Ayyavu Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• Ayyavu Naicken Street: Rs 2,750 per sq.ft (2024)
• Babyammal Road: Rs 4,400 per sq.ft (2024)
• Astalakshmi Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 8th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyavu Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ayyavu Nagar 1st Street?

The Sub Registrar Office that covers Ayyavu Nagar 1st Street is the Virugambakkam Sub Registrar Office, 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 Maduravoyal

The guideline value is a crucial factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ayyavu Nagar 1st Street?

The current guideline value of Ayyavu Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 93 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 2,857% over the years.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, which is higher than the current value of Ayyavu Nagar 1st Street.

What are the stamp duty rates for properties in Ayyavu Nagar 1st Street?

The stamp duty for properties in Ayyavu Nagar 1st Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ayyavu Nagar 1st Street?

The Sub Registrar Office for Ayyavu Nagar 1st Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.