Guideline Value for AVVAIYAR STREET

Avvaiyar Street guideline value

The current guideline value of Avvaiyar Street in Vanagaram village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - III.

How the guideline value of Avvaiyar Street has changed

Over the years, the guideline value of Avvaiyar Street has seen several revisions. In 2012, the guideline value was Rs 1,000 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a drop of 33%. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest 2024 revision has set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,660 per sq.ft, indicating that Avvaiyar Street's 2024 figure is below this median.

• Avn Garden: Rs 1,100 per sq.ft (2024)
• Arunachalam Nagar 5th Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 4th Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 3rd Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 2nd Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 1 To 5 Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 information.

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

The guideline value is a crucial factor when buying or selling property in Vanagaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer decides to purchase a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency in property transactions and helps prevent undervaluation.

Frequently asked questions

What is the current guideline value of Avvaiyar Street?

The current guideline value of Avvaiyar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Avvaiyar Street?

Avvaiyar Street is classified as Residential Class IV Type - III, indicating its use for residential purposes.

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

The Sub Registrar Office for 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.

How is the stamp duty calculated for property in Avvaiyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 77,000 at a rate of 7%.