Guideline Value for Main Road

Main Road guideline value

The current guideline value of Main Road in Ayakolathur village, under the Sriperumpudur SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Main Road has changed

The guideline value of Main Road has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 700 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the value was Rs 469 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 700 per sq.ft, showing a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 700 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 and 2017 revisions had values, with the 2012 figure being Rs 700 per sq.ft and the 2017 figure being Rs 469 per sq.ft.

Guideline values in Ayakolathur

In Ayakolathur village, there are 15 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 700 per sq.ft. The median value is Rs 200 per sq.ft, placing Main Road's 2024 figure above this median.

• M.G.R Street: Rs 200 per sq.ft (2024)
• Kakkajji Street: Rs 150 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 300 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 150 per sq.ft (2024)
• Chand Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 Main Road?

Main Road falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Ayakolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Main Road in Ayakolathur?

The current guideline value of Main Road in Ayakolathur is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Main Road has remained at Rs 700 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023.

What is the land classification for Main Road?

Main Road is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for a property on Main Road?

For a 1,000 sq.ft plot valued at Rs 700 per sq.ft, the total stamp duty and registration fees would amount to Rs 63,000, which includes Rs 49,000 for stamp duty and Rs 14,000 for registration fees.

Which office handles the registration for Main Road?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, handles the registration for Main Road.