Guideline Value for Rengappa Maistry Street

Rengappa Maistry Street guideline value

The current guideline value of Rengappa Maistry Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Rengappa Maistry Street has changed

The guideline value for Rengappa Maistry Street has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017 before rising to Rs 4,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 308%. Notably, there are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Rengappa Maistry Street.

• Reddy Colony: Rs 5,500 per sq.ft (2024)
• Rangasamy Street,Chennai 82: Rs 4,400 per sq.ft (2024)
• R.V.Nagar 2nd Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 3rd Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 4th Street & Cross Street: Rs 6,500 per sq.ft (2024)
• R.V.Nagar 5th Street & Cross Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rengappa Maistry Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty, charged at 7%, would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. 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 Rengappa Maistry Street?

The Sub Registrar Office that covers Rengappa Maistry Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty 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 region.

Frequently asked questions

What is the current guideline value of Rengappa Maistry Street?

The current guideline value of Rengappa Maistry Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 308% over the years.

What is the land classification for Rengappa Maistry Street?

Rengappa Maistry Street is classified as Residential Class I Type - III under the current guidelines.

Where can I find the Sub Registrar Office for Rengappa Maistry Street?

The Sub Registrar Office for Rengappa Maistry Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at the rate of 7%.