Guideline Value

Corporate

Guideline Value for AVVAIYAR STREET

₹2200/sq.ft.

The guideline value for Avvaiyar Street in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Avvaiyar Street

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Avvaiyar Street guideline value

The current guideline value of Avvaiyar Street in Medavakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Avvaiyar Street has changed

The guideline value for Avvaiyar Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, indicating a substantial increase of 49% over the six years leading up to 2023. There are no figures available for the revisions in 2002, 2003, and 2007.

Looking further back, the 2012 revision also set the value at Rs 2,000 per sq.ft, but this was a decrease of 33% from the 2017 figure. Overall, comparing the values from 2012 to 2024, there has been an increase of 10% in the guideline value.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Avvaiyar Street.

Stamp duty and registration fee for property in Avvaiyar Street

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 cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvaiyar Street?

The Sub Registrar Office that covers Avvaiyar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Medavakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs incurred during the buying or selling process.

When a property is sold, the guideline value is compared against the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Avvaiyar Street?

The current guideline value of Avvaiyar Street 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, with various revisions in between that reflect these changes.

What is the land classification of Avvaiyar Street?

Avvaiyar Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Avvaiyar Street?

The Sub Registrar Office for Avvaiyar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.