Guideline Value for AVVAIYAR STREET

Avvaiyar Street guideline value

The current guideline value of Avvaiyar Street in Perungudi village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified under Residential Class III Type - I.

How the guideline value of Avvaiyar Street has changed

Avvaiyar Street has seen several revisions in its guideline value over the years. The earliest figure recorded was Rs 260 per sq.ft in 2002. This increased significantly to Rs 650 per sq.ft in 2003, marking a change of +150%. By 2007, the value rose to Rs 800 per sq.ft, an increase of +23%. The 2012 revision brought the value to Rs 2,500 per sq.ft, reflecting a substantial increase of +213%. However, in 2017, the value decreased to Rs 1,675 per sq.ft, a drop of -33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,800 per sq.ft in 2024, which represents a +12% change.

Overall, from 2002 to 2024, the guideline value has increased by +977%. The register has no figures for the years not mentioned above.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Avvaiyar Street's 2024 figure is below this median.

• Atrium: Rs 2,800 per sq.ft (2024)
• Athiyaman Street: Rs 2,800 per sq.ft (2024)
• Balagangatharar Thilakar Street: Rs 2,200 per sq.ft (2024)
• Anna Netunchalai (Mayanam Salai): Rs 3,900 per sq.ft (2024)
• Anna Nedunchalai: Rs 3,900 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. 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 details.

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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungudi. It serves as a benchmark for calculating the stamp duty and registration fees that are payable during the transaction. This ensures that all property transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Avvaiyar Street?

The current guideline value of Avvaiyar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 260 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of +977% over this period.

What are the other streets in Perungudi with similar guideline values?

Other streets in Perungudi with similar guideline values include Atrium and Athiyaman Street, both at Rs 2,800 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 2,800 per sq.ft, the total fees would be Rs 2,52,000.

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

The Sub Registrar Office for 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.