Guideline Value for AVVAIYAR STREET (WARD -7)

Avvaiyar Street (Ward -7) guideline value

The current guideline value of Avvaiyar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Avvaiyar Street (Ward -7) has changed

Over the years, the guideline value of Avvaiyar Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is a 10% increase. The 2023 to 2024 revision reflects a 10% increase, while the jump from 2017 to 2023 shows a notable 49% increase. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Avvaiyar Street's 2024 figure above this median.

• Ayya Nagar (Sa): Rs 440 per sq.ft (2024)
• Avvai Duraisamy Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Azhahiri Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Bajanai Koil Street (Ward -15): Rs 660 per sq.ft (2024)
• Bajanai Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Bajanai Koil Street (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. 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 Avvaiyar Street (Ward -7)?

The Sub Registrar Office covering Avvaiyar Street (Ward -7) 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Ninna Karai. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Avvaiyar Street (Ward -7)?

The current guideline value of Avvaiyar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then rising back to Rs 1,321 per sq.ft in 2024.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft, which is lower than the current guideline value of Avvaiyar Street.

What are the stamp duty rates for property transactions?

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 Sub Registrar Office for Avvaiyar Street?

The Sub Registrar Office for Avvaiyar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.