Guideline Value for AVVAI NAGAR

Avvai Nagar guideline value

The current guideline value of Avvai Nagar, located in Perambur village under the Purasaivakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Avvai Nagar has changed

The guideline value for Avvai Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 336 per sq.ft. This increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 600 per sq.ft in 2007, representing a 63% increase. Following this, there was a substantial jump to Rs 3,500 per sq.ft in 2012, which was a 483% increase. However, the value dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased again to Rs 3,500 per sq.ft in 2023, a 49% rise, and finally reached Rs 3,800 per sq.ft in 2024, marking a 9% increase.

There are no recorded figures for the years between these revisions for Avvai Nagar. Overall, from 2002 to 2024, the guideline value has increased by 1,031%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Avvai Nagar is above this median.

• Avvai Nagar 1st Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total 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, bringing the total charges to Rs 3,42,000. It is important to 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 further calculations.

Which Sub Registrar Office covers Avvai Nagar?

The Sub Registrar Office that covers Avvai Nagar 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 is a crucial factor in property transactions in Perambur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable taxes. This ensures that the transaction is recorded accurately and that the correct fees are paid to the authorities.

Frequently asked questions

What is the current guideline value of Avvai Nagar?

The current guideline value of Avvai Nagar 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 336 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 1,031%.

What is the land classification of Avvai Nagar?

Avvai Nagar is classified as Residential Class II Type - II.

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

The Sub Registrar Office for Avvai Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property in Avvai Nagar?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would amount to Rs 2,66,000.