Guideline Value for AVVAI STREET

Avvai Street guideline value

The current guideline value of Avvai Street in Padi village is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Villivakkam SRO and is classified as Residential Class V Type - I.

How the guideline value of Avvai Street has changed

Over the years, the guideline value of Avvai Street has seen significant changes. The register shows that in 2002, the guideline value was Rs 402 per sq.ft. This figure increased to Rs 655 per sq.ft in 2003, marking a 63% rise. The value continued to rise, reaching Rs 850 per sq.ft in 2007, which was a 30% increase from the previous year. In 2012, the value saw a notable increase to Rs 2,300 per sq.ft, reflecting a 171% jump. However, this was followed by a decrease to Rs 1,541 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 2,300 per sq.ft in 2023, before reaching the current value of Rs 2,500 per sq.ft in 2024, which is a 9% increase.

There are no figures available for the years not listed in the register. Overall, from 2002 to 2024, the guideline value for Avvai Street has increased by 522%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Avvai Street's 2024 figure below that median.

• Ayyothiamman Koil Street: Rs 2,500 per sq.ft (2024)
• ASIAD COLONY (7th Avenue): Rs 13,100 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• A.P.PLOTS 9th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 8th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 7th STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total cost Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your costs using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvai Street?

The Sub Registrar Office that covers Avvai Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Padi. It serves as a benchmark for determining the value of the property for stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 402 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 522% over this period.

What is the land classification of Avvai Street?

Avvai Street is classified as Residential Class V Type - I under the Villivakkam SRO.

What are the stamp duty and registration fees for property in Avvai Street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000.

Where is the Sub Registrar Office for Avvai Street located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.