Guideline Value for AVVAI WEST STREET

Avvai West Street guideline value

The current guideline value of Avvai West Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam Sub Registrar Office (SRO) and is classified as Residential Class IV Type - II.

How the guideline value of Avvai West Street has changed

The guideline value for Avvai West Street has seen significant changes over the years. In 2002, the value was Rs 750 per sq.ft, which increased to Rs 824 per sq.ft in 2003, marking a 10% rise. The value continued to climb, reaching Rs 1,050 per sq.ft in 2007, a substantial increase of 27% from the previous revision. The 2012 revision saw a remarkable jump to Rs 4,000 per sq.ft, reflecting a 281% increase from 2007.

From 2012 to the latest revision in 2024, the guideline value rose by 10% to the current rate of Rs 4,400 per sq.ft. It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 487%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Avvai West Street's current value below this median.

• Avvai New West Street: Rs 4,400 per sq.ft (2024)
• Ayyapan Street: Rs 5,000 per sq.ft (2024)
• Ayyappan Nagar: Rs 5,000 per sq.ft (2024)
• Ayyasamy Street: Rs 5,000 per sq.ft (2024)
• Athreyapuram Main Road: Rs 6,300 per sq.ft (2024)
• Athreyapuram 2nd Street: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvai West Street?

The Sub Registrar Office that covers Avvai West 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 details.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for tax purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Avvai West Street?

The current guideline value of Avvai West Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Avvai West Street has increased from Rs 750 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 487% over this period.

What are the stamp duty rates applicable?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Kodambakkam SRO?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

Are there other streets in Puliyur with different guideline values?

Yes, there are several other streets in Puliyur with varying guideline values. For instance, Avvai New West Street also has a guideline value of Rs 4,400 per sq.ft, while streets like Ayyapan Street and Athreyapuram Main Road have higher values.