Guideline Value for Ayyavu Street

Ayyavu Street guideline value

The current guideline value of Ayyavu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Ayyavu Street has changed

Over the years, the guideline value of Ayyavu Street has seen several revisions. The 2007 revision recorded a value of Rs 1,210 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking an increase of 148%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, and finally to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for this street in the 2002 and 2003 revisions.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 173%, showcasing significant changes in the valuation over the years.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median guideline value in this area is Rs 4,900 per sq.ft, which indicates that Ayyavu Street's 2024 figure is below this median.

• Ayyavupuram Kambar Street: Rs 3,300 per sq.ft (2024)
• Azhagar Perumal 1st Lane: Rs 4,900 per sq.ft (2024)
• Azhagar Perumal 2nd Lane: Rs 4,900 per sq.ft (2024)
• Azhagar Perumal Koil 2nd Street: Rs 4,900 per sq.ft (2024)
• Azhagar Perumal Koil Cross Street Block 2, T.S.No.1 to 9: Rs 4,900 per sq.ft (2024)
• Azhagar Perumal Koil Street Block 1, T.S.No.1 to 11: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ayyavu Street

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, bringing the total cost together to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayyavu Street?

The Sub Registrar Office that covers Ayyavu Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used to establish the minimum value for property transactions, ensuring that taxes are appropriately calculated based on this valuation.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ayyavu Street?

The current guideline value of Ayyavu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,210 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 173%.

What is the land classification for Ayyavu Street?

Ayyavu Street is classified as Residential Class IV Type - II, indicating its designation for residential purposes.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Ayyavupuram Kambar Street at Rs 3,300 per sq.ft, and several others at Rs 4,900 per sq.ft.

Where is the Sub Registrar Office for Ayyavu Street located?

The Sub Registrar Office for Ayyavu Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.