Guideline Value for AVVAIYAR STREET (WARD-20)

Avvaiyar Street (Ward-20) guideline value

The current guideline value of Avvaiyar Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Konathi village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Avvaiyar Street (Ward-20) has changed

Historically, the guideline value for Avvaiyar Street has undergone several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and further rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, placing Avvaiyar Street's 2024 guideline value above this median.

• Athiparasakthi Nagar, Thailavaram (Ward-21): Rs 1,980 per sq.ft (2024)
• Bajanai Koil Street, Korukanthankal (Ward-20): Rs 770 per sq.ft (2024)
• Bajanaikoil Street, Potheri East (Ward -1): Rs 770 per sq.ft (2024)
• Bajanaikoil Street, Potheri (Ward -1): Rs 770 per sq.ft (2024)
• Bajanai Koil Street Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Bajanai Koil Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyar Street (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty, charged at 7%, would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total fees would be Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avvaiyar Street (Ward-20)?

The Sub Registrar Office that covers Avvaiyar Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial component in the registration process when buying or selling property in Konathi. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Avvaiyar Street (Ward-20)?

The current guideline value of Avvaiyar Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Avvaiyar Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Avvaiyar Street (Ward-20), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the transaction is accurately reflected in the official register and complies with local regulations.