Guideline Value for AVVAI STREET

Avvai Street guideline value

The current guideline value of Avvai Street in Arumbakkam village, under the Kodambakkam SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Avvai Street has changed

The guideline value for Avvai Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 414 per sq.ft. This figure increased to Rs 456 per sq.ft in 2003, marking a 10% increase. The value then rose significantly to Rs 950 per sq.ft in 2007, reflecting an increase of 108%. In 2012, the value was revised to Rs 4,600 per sq.ft, which represented a substantial jump of 384% from the previous figure.

In 2017, the guideline value decreased to Rs 3,082 per sq.ft, a decline of 33%. However, this was followed by a notable increase to Rs 4,600 per sq.ft in 2023, and finally, the current value stands at Rs 5,000 per sq.ft as of the 2024 revision, which is a 9% increase from the previous year. There are no figures for revisions in years other than those listed.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, placing Avvai Street's 2024 figure below that median.

• Ayyavoo Colony -Ammayee Ammal Lane: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony -Ammayee Ammal Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony -Ayyavoo Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony -Duraiswamy Street: Rs 6,600 per sq.ft (2024)
• Ayyavoo Colony - Govindan Street: Rs 7,100 per sq.ft (2024)
• Ayyavoo Colony -Indirani Street: Rs 6,600 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 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total cost for these fees Rs 4,50,000. 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 more details.

Which Sub Registrar Office covers Avvai Street?

The Sub Registrar Office that covers Avvai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Arumbakkam. It serves as a benchmark for determining the value of property transactions and is used to calculate the applicable stamp duty and registration fees during the registration process.

When you register a property, the guideline value is assessed to ensure that the transaction reflects the market conditions. This value helps in maintaining transparency and fairness in property dealings, ensuring that all transactions are conducted in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 414 per sq.ft in 2002 to the current value of Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1108% since 2002.

What is the land classification for Avvai Street?

Avvai Street is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for properties on Avvai Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,50,000.

Where is the Sub Registrar Office for Avvai Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, and it oversees the registration of properties in Avvai Street.