Guideline Value for AVADHANAM PAPPAIYAR STREET & ROAD

Avadhanam Pappaiyar Street & Road guideline value

The current guideline value of Avadhanam Pappaiyar Street & Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Avadhanam Pappaiyar Street & Road has changed

The guideline value for Avadhanam Pappaiyar Street & Road has seen several revisions over the years. In 2007, the value was Rs 2,600 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012, marking a 169% rise. However, this was followed by a decrease to Rs 4,690 per sq.ft in 2017, reflecting a drop of 33% from the previous revision.

From 2017 to 2023, the guideline value rose sharply by 49% to reach Rs 7,000 per sq.ft. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, a 10% increase from 2023. Overall, from 2007 to 2024, the guideline value has increased by 196%.

Guideline values in Purasaivakkam

In Purasaivakkam village, 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. The median value is Rs 5,500 per sq.ft, placing Avadhanam Pappaiyar Street & Road above this median.

• Avadhanam Pappaiyar 2nd Lane: Rs 6,500 per sq.ft (2024)
• Avadhanam Pappaiyar 1st Lane: Rs 6,500 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 Street & Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avadhanam Pappaiyar Street & Road?

The Sub Registrar Office that covers Avadhanam Pappaiyar Street & Road 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

The guideline value is a crucial factor in property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers should be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When registering a property, 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 registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Avadhanam Pappaiyar Street & Road?

The current guideline value of Avadhanam Pappaiyar Street & Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 196% over the years.

What is the land classification for Avadhanam Pappaiyar Street & Road?

Avadhanam Pappaiyar Street & Road is classified as Residential Class II Type - I.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles property registrations in Purasaivakkam?

The Purasaivakkam Sub Registrar Office located at 93/1, Bricklin Road, Otteri, Chennai- 600 012 handles property registrations in Purasaivakkam.