Guideline Value for AVVAI STREET

Avvai Street guideline value

The current guideline value of Avvai Street in Ponneri village, under the Ponneri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Avvai Street has changed

The guideline value for Avvai Street has seen significant changes over the years. The register has no figure for this street from the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft. This figure increased to Rs 700 per sq.ft in the 2024 revision, marking a change of +133% from the previous year.

Prior to the 2023 revision, there were no recorded figures for Avvai Street in the years mentioned. The substantial increase from Rs 300 to Rs 700 per sq.ft reflects the latest adjustments made by the Registration Department’s guideline value register.

Guideline values in Ponneri

In Ponneri village, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 201 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is the same as the current figure for Avvai Street.

• Attrangarai: Rs 900 per sq.ft (2024)
• Athaualla Street: Rs 700 per sq.ft (2024)
• Atha Thulla Street: Rs 700 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,200 per sq.ft (2024)
• Balaji Nagar: Rs 700 per sq.ft (2024)
• Arasur Road: Rs 900 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty, calculated at 7%, would be Rs 49,000, and the registration fee, charged at 2%, would be Rs 14,000. Together, the total cost for stamp duty and registration would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Ponneri. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the property transfer process. Understanding the guideline value helps in making informed decisions regarding property transactions in Ponneri.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street is Rs 700 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by +133% from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024.

What is the land classification for Avvai Street?

Avvai Street is classified under Residential Class II Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for property in Avvai Street?

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 Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, resulting in a stamp duty of Rs 49,000.