Guideline Value for SRI AYYAPPAN NAGAR PHASE-II

Sri Ayyappan Nagar Phase-II guideline value

The current guideline value of Sri Ayyappan Nagar Phase-II is Rs 150 per sq.ft. This area is located in Kovalavedu village, under the Walajabad Sub Registrar Office (SRO). The land classification for this property is Residential Class I Type - I.

How the guideline value of Sri Ayyappan Nagar Phase-II has changed

The guideline value for Sri Ayyappan Nagar Phase-II has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 150 per sq.ft, which is the same as the 2023 revision. Prior to this, the 2017 revision recorded a value of Rs 100 per sq.ft, marking a 50% increase from 2017 to 2023. The 2012 revision also had a value of Rs 150 per sq.ft, showing a decrease of 33% from the 2012 figure to the 2017 figure. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 150 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Kovalavedu

In Kovalavedu, four streets under the Walajabad SRO have a 2024 guideline value ranging from Rs 150 to Rs 200 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value for Sri Ayyappan Nagar Phase-II is equal to this median.

• Sri Ayyappan Nagar Phase-I: Rs 150 per sq.ft (2024)
• Vgp Mother Teresapuram: Rs 150 per sq.ft (2024)
• Thiru Rajadurai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ayyappan Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sri Ayyappan Nagar Phase-II?

The Sub Registrar Office that covers Sri Ayyappan Nagar Phase-II is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kovalavedu, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties comply with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. This value is regularly updated and should be checked before proceeding with any sale or purchase.

Frequently asked questions

What is the current guideline value of Sri Ayyappan Nagar Phase-II?

The current guideline value of Sri Ayyappan Nagar Phase-II is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained Rs 150 per sq.ft from 2012 to 2024, with a notable increase of 50% from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023.

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

Other streets in Kovalavedu include Sri Ayyappan Nagar Phase-I and Vgp Mother Teresapuram, both at Rs 150 per sq.ft, and Thiru Rajadurai Nagar, which is at Rs 200 per sq.ft.

Where can I find the registration office for Sri Ayyappan Nagar Phase-II?

The registration office for Sri Ayyappan Nagar Phase-II is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated based on the guideline value?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, with a guideline value of Rs 1,50,000, the stamp duty at 7% would be Rs 10,500.