Guideline Value for Sri Ayappa Nagar Extension

Sri Ayappa Nagar Extension guideline value

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

How the guideline value of Sri Ayappa Nagar Extension has changed

Over the years, the guideline value of Sri Ayappa Nagar Extension has seen significant changes. The earliest recorded figure in the register is from 2007, where the value was Rs 300 per sq.ft. This increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a reduction of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently, it reached Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

In summary, the changes from 2007 to 2024 show an overall increase of 633%. The increase from 2017 to 2023 was 49%, while the jump from 2012 to 2017 was a decrease of 33%. Each revision reflects the evolving real estate landscape in the area.

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, indicating that the guideline value of Sri Ayappa Nagar Extension is below this median.

• Sri Ayappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sri Ayappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sri Ayappa Nagar 1st Street: 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 Extension

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, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ayappa Nagar Extension?

The Sri Ayappa Nagar Extension falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Sri Ayappa Nagar Extension?

The current guideline value of Sri Ayappa Nagar Extension 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 from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What are the other streets in Maduravoyal with similar guideline values?

Other streets in Maduravoyal, such as Sri Ayappa Nagar 1st, 2nd, and 3rd Streets, all have a guideline value of Rs 2,200 per sq.ft as of 2024.

What fees are associated with registering property in Sri Ayappa Nagar Extension?

When registering property, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Ayappa Nagar Extension?

The Virugambakkam Sub Registrar Office covers Sri Ayappa Nagar Extension and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.