Guideline Value for SHRI AYYA NAGAR

Shri Ayya Nagar guideline value

The current guideline value of Shri Ayya Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this locality is Residential Class IV Type - II.

How the guideline value of Shri Ayya Nagar has changed

The guideline value for Shri Ayya Nagar has experienced significant changes over the years. Starting from Rs 79 per sq.ft in 2002, it increased to Rs 100 per sq.ft in 2003, marking a 27% rise. The value then surged to Rs 400 per sq.ft in 2007, reflecting a 300% increase. By 2012, it reached Rs 1,200 per sq.ft, which was a 200% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, representing a 64% increase from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 1571%. It is important to note that there is no figure available for the year 2023 for this street in the register.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Shri Ayya Nagar's 2024 guideline value below this median.

• Shri Angala Parameswari Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Shri Balaji Nagar: Rs 1,320 per sq.ft (2024)
• Shri Ambal Nagar /Extn: Rs 1,980 per sq.ft (2024)
• Shridharan V Nagar: Rs 2,200 per sq.ft (2024)
• Shri Ganapathi Nagar: Rs 1,320 per sq.ft (2024)
• Shri Jaya Anjenayar Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Ayya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Shri Ayya Nagar?

The Sub Registrar Office that covers Shri Ayya Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue from the sale. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Shri Ayya Nagar?

The current guideline value of Shri Ayya Nagar is Rs 1,320 per sq.ft as of the 2024 revision, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 79 per sq.ft to Rs 1,320 per sq.ft in 2024, representing an overall increase of 1571%.

What is the land classification for Shri Ayya Nagar?

The land classification for Shri Ayya Nagar is Residential Class IV Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Shri Ayya Nagar?

The Sub Registrar Office covering Shri Ayya Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated in Shri Ayya Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400.