Guideline Value for AVVAI NAGAR 1ST STREET

Avvai Nagar 1st Street guideline value

The current guideline value of Avvai Nagar 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Avvai Nagar 1st Street has changed

The guideline value for Avvai Nagar 1st Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which saw a significant increase to Rs 3,500 per sq.ft in 2012, marking a rise of 483%. However, this value decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value then increased substantially to Rs 3,500 per sq.ft in 2023, a rise of 49%, before reaching the current value of Rs 3,800 per sq.ft in 2024, which is a 9% increase.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 533%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Avvai Nagar 1st Street's current value above this median.

• Avvai Nagar: Rs 3,800 per sq.ft (2024)
• Avvai Nagar 2nd Street: Rs 3,800 per sq.ft (2024)
• Avvai Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Avvai Street: Rs 3,800 per sq.ft (2024)
• Azad Street: Rs 2,700 per sq.ft (2024)
• Azhagiri Samy 1st Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Avvai Nagar 1st Street?

The Sub Registrar Office that covers Avvai Nagar 1st Street 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 Perambur

The guideline value plays a crucial role during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are charged based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Avvai Nagar 1st Street?

The current guideline value of Avvai Nagar 1st Street is Rs 3,800 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 600 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 533% over the years.

What is the land classification of Avvai Nagar 1st Street?

Avvai Nagar 1st Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Avvai Nagar 1st Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registration for Avvai Nagar 1st Street?

The Purasaivakkam Sub Registrar Office handles property registration for Avvai Nagar 1st Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.