Guideline Value for AVAIYAR STREET

Avaiyar Street guideline value

The current guideline value of Avaiyar Street, located in Ekkaduthangal village, is Rs 3,080 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Avaiyar Street has changed

Over the years, the guideline value of Avaiyar Street has seen significant changes. The earliest recorded revision was in 2002, with a guideline value of Rs 397 per sq.ft. This increased to Rs 458 per sq.ft in 2003, marking a rise of 15%. The value then saw a substantial increase to Rs 1,000 per sq.ft in 2007, representing an increase of 118%. Following this, the guideline value rose dramatically to Rs 2,800 per sq.ft in 2012, which was a 180% increase. However, from 2012 to 2017, the value decreased to Rs 1,876 per sq.ft, reflecting a drop of 33%. The value then climbed to Rs 2,800 per sq.ft in 2023, and most recently, it has reached Rs 3,080 per sq.ft in the 2024 revision, indicating a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 676%. The register has no figures for revisions in years other than those listed above.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Avaiyar Street's 2024 figure below this median.

• Ashok Pillar Main Road: Rs 8,800 per sq.ft (2024)
• Ashok Nagar Inring Road: Rs 8,800 per sq.ft (2024)
• Arunagiri Street: Rs 3,080 per sq.ft (2024)
• Arumugam Street: Rs 4,620 per sq.ft (2024)
• Arul Prakasam Road: Rs 3,520 per sq.ft (2024)
• Balaji Nagar (120 Feet Road West Side): Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Avaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, making the total fees together Rs 2,77,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avaiyar Street?

The Sub Registrar Office that covers Avaiyar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Ekkaduthangal. It serves as the minimum value on which stamp duty and registration fees are calculated. When a buyer and seller agree on a sale price, the higher of the two values—either the guideline value or the sale price—is used to determine the applicable fees.

Understanding the guideline value is essential for both buyers and sellers, as it influences the overall cost of property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Avaiyar Street?

The current guideline value of Avaiyar Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 397 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, marking an overall increase of 676% over this period.

What are the stamp duty and registration fees for property in Avaiyar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 30,80,000. The stamp duty at 7% is Rs 2,15,600, and the registration fee at 2% is Rs 61,600, totaling Rs 2,77,200.

Which Sub Registrar Office covers Avaiyar Street?

The Chennai South Joint I Sub Registrar Office covers Avaiyar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value determined for properties in Ekkaduthangal?

The guideline value for properties in Ekkaduthangal is determined by the Registration Department's guideline value register, which is revised periodically based on various factors. It serves as a reference for calculating stamp duty and registration fees during property transactions.