Guideline Value for AVVAI STREET

Avvai Street guideline value

The current guideline value of Avvai Street in Perambur village, under the Purasaivakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Avvai Street has changed

The guideline value of Avvai Street has undergone several revisions over the years. In 2002, the guideline value was Rs 420 per sq.ft. This increased to Rs 461 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 600 per sq.ft in 2007, which was a 30% increase from the previous year. By 2012, the guideline value rose to Rs 3,500 per sq.ft, reflecting a substantial increase of 483% from 2007. However, this value dropped to Rs 2,345 per sq.ft in 2017, showing a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, and then it increased to Rs 3,800 per sq.ft in 2024, representing a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 805%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Avvai Street's 2024 figure above this median.

• Avvai Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Avvai Nagar 2nd Street: Rs 3,800 per sq.ft (2024)
• Avvai Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Avvai Nagar: 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the 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, totaling Rs 3,42,000. Please 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 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

When buying or selling property in Perambur, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This value is crucial as it serves as a benchmark for the official valuation of the property during registration.

It is important to note that the guideline value may differ from the actual sale price of the property. The stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street 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 seen various revisions, increasing from Rs 420 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, which is an overall increase of 805%.

What is the land classification for Avvai Street?

The land classification for Avvai Street is Residential Class II Type - II.

Where is the Sub Registrar Office for Avvai Street located?

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

How is stamp duty calculated for properties in Avvai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.