Guideline Value for AVADHANAM PAPPAIYAR 1ST LANE

Avadhanam Pappaiyar 1st Lane guideline value

The current guideline value of Avadhanam Pappaiyar 1st Lane is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Avadhanam Pappaiyar 1st Lane has changed

The guideline value for Avadhanam Pappaiyar 1st Lane has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012, marking a remarkable rise of 233%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a drop of 33%. The value then increased again to Rs 6,000 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 has set the value at Rs 6,500 per sq.ft, an increase of 8% from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 261%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Avadhanam Pappaiyar 1st Lane's 2024 figure of Rs 6,500 per sq.ft is above this median.

• Avadhanam Pappaiyar 2nd Lane: Rs 6,500 per sq.ft (2024)
• Avadhanam Pappaiyar Street & Road: Rs 7,700 per sq.ft (2024)
• Ayyavu Street: Rs 4,400 per sq.ft (2024)
• Ashtabujam Street: Rs 5,500 per sq.ft (2024)
• Ashtabujam Lane: Rs 5,500 per sq.ft (2024)
• Ashtabujam 2nd Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Avadhanam Pappaiyar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total fees to Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avadhanam Pappaiyar 1st Lane?

The Sub Registrar Office that covers Avadhanam Pappaiyar 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Avadhanam Pappaiyar 1st Lane?

The current guideline value for Avadhanam Pappaiyar 1st Lane is Rs 6,500 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 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261%.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office is responsible for Avadhanam Pappaiyar 1st Lane?

The responsible Sub Registrar Office is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Avadhanam Pappaiyar 1st Lane?

Avadhanam Pappaiyar 1st Lane is classified as Residential Class II Type - II, indicating its suitability for residential development.