Guideline Value for Sri Ayappa Nagar 2nd Street

Sri Ayappa Nagar 2nd Street guideline value

The current guideline value of Sri Ayappa Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Sri Ayappa Nagar 2nd Street has changed

The guideline value for Sri Ayappa Nagar 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 78 per sq.ft. This increased to Rs 86 per sq.ft in 2003, marking a 10% rise. The next revision in 2007 saw a significant jump to Rs 300 per sq.ft, an increase of 249%. In 2012, the value was Rs 2,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which was a 49% increase from 2012. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 is Rs 2,200 per sq.ft, representing a 10% increase.

There are no figures available for the revisions between 2002 and 2007, and the register has no figure for the years prior to 2002 or after 2024.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing Sri Ayappa Nagar 2nd Street's 2024 figure below this median.

• Sri Ayappa Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sri Ayappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sri Ayappa Nagar Extension: Rs 2,200 per sq.ft (2024)
• Sri Bakkya Nagar: Rs 2,750 per sq.ft (2024)
• Sri Abiramai Nagar: Rs 2,750 per sq.ft (2024)
• Sri Devi Nagar 10th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ayappa Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Ayappa Nagar 2nd Street?

The Sri Ayappa Nagar 2nd Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions within Maduravoyal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the transaction is recorded at a fair value as per the government regulations.

When selling property, the guideline value can influence the sale price and is often referenced during negotiations. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ayappa Nagar 2nd Street?

The current guideline value of Sri Ayappa Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 78 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 2721%.

What is the registration office for Sri Ayappa Nagar 2nd Street?

The registration office for Sri Ayappa Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find more information about the guideline values in Maduravoyal?

More information about guideline values in Maduravoyal can be found through the local registration department's resources or by visiting the relevant links for other streets in the area.