Guideline Value for AVVAI NAGAR

Avvai Nagar guideline value

The current guideline value of Avvai Nagar, located in Thiruvanmiyur village under the Chennai South Joint I SRO, is Rs 7,150 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class IV Type - I land classification.

How the guideline value of Avvai Nagar has changed

The guideline value for Avvai Nagar has seen several revisions over the years. In 2002, the value was Rs 837 per sq.ft, which increased to Rs 926 per sq.ft in 2003. The following revisions saw significant changes, with the value rising to Rs 1,300 per sq.ft in 2007, then dramatically increasing to Rs 6,500 per sq.ft in 2012. However, it dropped to Rs 4,355 per sq.ft in 2017 before climbing to Rs 6,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 7,150 per sq.ft.

Between these revisions, notable changes include a 400% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, a 10% increase was observed from 2023 to 2024. The overall increase from 2002 to 2024 is 754%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO carrying a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing Avvai Nagar's 2024 guideline value below this median.

• Avvai Nagar Main Road: Rs 7,150 per sq.ft (2024)
• Avvai Nagar (Pandian Street): Rs 7,150 per sq.ft (2024)
• Astalakshmi Kovil Street: Rs 7,150 per sq.ft (2024)
• Astalakshmi Garden: Rs 8,250 per sq.ft (2024)
• Astalakshmi Avenue: Rs 8,250 per sq.ft (2024)
• Arundale 3rd Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, while the registration fee at 2% would be Rs 1,43,000, bringing the total cost for these fees to Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvai Nagar?

The Sub Registrar Office that covers Avvai Nagar 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 details.

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

The guideline value is a crucial factor when buying or selling property in Thiruvanmiyur, as it determines the minimum value at which a property can be registered. This value is set by the government and is used to calculate the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Avvai Nagar?

The current guideline value of Avvai Nagar is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with an overall increase of 754% from Rs 837 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024.

What is the land classification for Avvai Nagar?

Avvai Nagar falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for Avvai Nagar?

The Sub Registrar Office for Avvai Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Avvai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 at 7%.