Guideline Value for AVVAI STREET

Avvai Street guideline value

The current guideline value of Avvai Street in Pallikaranai village is Rs 1,650 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 Avvai Street has changed

The guideline value for Avvai Street has seen several revisions over the years. In 2002, the value was Rs 104 per sq.ft, which increased to Rs 210 per sq.ft in 2003, marking a change of +102%. The value further rose to Rs 400 per sq.ft in 2007, reflecting a significant increase of +90%. In 2012, the value remained unchanged at Rs 1,500 per sq.ft, and this figure was carried over to the 2023 revision. The 2024 revision marks a new increase to Rs 1,650 per sq.ft, representing a +10% change from the previous year.

Notably, there is no figure available for Avvai Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +1487%, showcasing substantial growth over the years.

Guideline values in Pallikaranai

In Pallikaranai, there are 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 is Rs 1,650 per sq.ft, which aligns with the current value of Avvai Street.

• Avvai 4th Street: Rs 1,650 per sq.ft (2024)
• Avvai 2nd Street: Rs 1,650 per sq.ft (2024)
• Avvai 1st 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvai Street?

The Sub Registrar Office that covers Avvai 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 plays a crucial role in the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is documented accurately. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai 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 increased from Rs 104 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of +1487% over the years.

What is the registration office for Avvai Street?

The registration office for Avvai 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.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

What other streets have the same guideline value as Avvai Street?

Other streets in Pallikaranai, such as Avvai 4th Street, Avvai 2nd Street, and Avvai 1st Street, also have a guideline value of Rs 1,650 per sq.ft in 2024.