Guideline Value for AVVAIYAR STREET

Avvaiyar Street guideline value

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

How the guideline value of Avvaiyar Street has changed

Over the years, the guideline value of Avvaiyar Street has seen significant changes. The 2007 revision recorded a value of Rs 500 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in the 2012 revision, marking a 300% increase. However, this value decreased to Rs 1,340 per sq.ft in the 2017 revision, a reduction of 33%. The subsequent 2023 revision saw a rise to Rs 2,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Avvaiyar Street is above this median.

• Avvaiyar Street (East): 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

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 fees together to Rs 1,98,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Avvaiyar Street?

The Sub Registrar Office that covers Avvaiyar Street 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 crucial factor when buying or selling property in Karapakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers should be aware that the guideline value can influence the overall cost of purchasing property, as these fees are based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is at least equal to the guideline value to avoid any complications during the registration process. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

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 of Avvaiyar Street changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the land classification for Avvaiyar Street?

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

Where is the Neelankarai Sub Registrar Office located?

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 on Avvaiyar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.