Guideline Value for AVVAIYAR STREET (WEST)

Avvaiyar Street (West) guideline value

The current guideline value of Avvaiyar Street (West) 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 (West) has changed

The guideline value for Avvaiyar Street (West) has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. 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, placing Avvaiyar Street (West) above this median at Rs 2,200 per sq.ft.

• Avvaiyar Street (East): Rs 2,200 per sq.ft (2024)
• Avvaiyar Street: 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 (West)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Avvaiyar Street (West)?

The Avvaiyar Street (West) is covered by 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 of property transactions in Karapakkam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

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 stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Avvaiyar Street (West) 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 back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Avvaiyar Street (West)?

The Neelankarai Sub Registrar Office handles property registrations for Avvaiyar Street (West), located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Avvaiyar Street (West)?

Avvaiyar Street (West) is classified as Residential Class II Type - II, indicating its zoning for residential purposes.