Guideline Value for AVVAIYAR STREET (EAST)

Avvaiyar Street (East) guideline value

The current guideline value of Avvaiyar Street (East) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Avvaiyar Street (East) has changed

The guideline value for Avvaiyar Street (East) has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The changes between revisions include a substantial 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, making the current value of Avvaiyar Street (East) above the median.

• Avvaiyar Street: Rs 2,200 per sq.ft (2024)
• Avvaiyar Street (West): Rs 2,200 per sq.ft (2024)
• Arunachalam Street: Rs 1,100 per sq.ft (2024)
• ARIANGAR ANNA STREET 1st CROSS: Rs 1,700 per sq.ft (2024)
• Ariangar Anna Street: Rs 2,200 per sq.ft (2024)
• Anna Street/Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyar Street (East)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that 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 (East)?

The Sub Registrar Office that covers Avvaiyar Street (East) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Karapakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark to assess the property's worth in the eyes of the law. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Avvaiyar Street (East)?

The current guideline value of Avvaiyar Street (East) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Avvaiyar Street (East)?

Avvaiyar Street (East) is classified as Residential Class II Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Avvaiyar Street (East)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,54,000.