Guideline Value for AVADHANAM PAPPAIYAR 2ND LANE

Avadhanam Pappaiyar 2nd Lane guideline value

The current guideline value of Avadhanam Pappaiyar 2nd Lane is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Avadhanam Pappaiyar 2nd Lane has changed

The guideline value for Avadhanam Pappaiyar 2nd 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 rise of 233%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 saw an increase to Rs 6,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 6,500 per sq.ft, which is an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 261%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Avadhanam Pappaiyar 2nd Lane above this median.

• Avadhanam Pappaiyar 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value amounts to Rs 65,00,000. The stamp duty at 7% would be Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avadhanam Pappaiyar 2nd Lane?

The Sub Registrar Office that covers Avadhanam Pappaiyar 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

When buying or selling property in Purasaivakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Both the buyer and seller should be aware that the guideline value may influence the final sale price, as it is used to calculate the necessary fees that must be paid to the registration office.

Frequently asked questions

What is the current guideline value of Avadhanam Pappaiyar 2nd Lane?

The current guideline value of Avadhanam Pappaiyar 2nd 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 from Rs 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261% over the years.

What is the land classification for Avadhanam Pappaiyar 2nd Lane?

The land classification for Avadhanam Pappaiyar 2nd Lane is Residential Class II Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

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

How is the stamp duty calculated for properties in Avadhanam Pappaiyar 2nd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 65,00,000, the stamp duty would be Rs 4,55,000 at 7%.