Guideline Value for AVVAI 2ND STREET

Avvai 2nd Street guideline value

The current guideline value of Avvai 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Avvai 2nd Street has changed

The guideline value for Avvai 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from the 2023 revision of Rs 1,500 per sq.ft. The 2012 revision also recorded Rs 1,500 per sq.ft, indicating no change from 2012 to 2023. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. The consistent value of Rs 1,500 per sq.ft from 2012 to 2023 demonstrates stability before the recent adjustment.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for this area is Rs 1,650 per sq.ft, which is the same as the current value for Avvai 2nd Street.

• Avvai 1st Street: Rs 1,650 per sq.ft (2024)
• Avvai 4th Street: Rs 1,650 per sq.ft (2024)
• Avvai Street: Rs 1,650 per sq.ft (2024)
• Auto Nagar: Rs 1,320 per sq.ft (2024)
• Athipoorishwarar Koil Street: Rs 1,650 per sq.ft (2024)
• Athimoolam Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Avvai 2nd Street?

The Sub Registrar Office that covers Avvai 2nd 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 Pallikaranai

The guideline value is a critical factor in the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential for ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Avvai 2nd Street?

The current guideline value of Avvai 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase. There was no change from 2012 to 2023, where the value remained at Rs 1,500 per sq.ft.

What is the land classification for Avvai 2nd Street?

The land classification for Avvai 2nd Street is Residential Class IV Type - I.

Which office handles the registration for Avvai 2nd Street?

The registration for Avvai 2nd Street is handled by the Chennai South Joint I Sub Registrar Office, located in Fanepet Nandanam, Chennai.

How is the stamp duty calculated for properties in Pallikaranai?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.