Guideline Value for AVVIYAR STREET

Avviyar Street guideline value

The current guideline value of Avviyar Street in Nanmangalam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Avviyar Street has changed

The guideline value for Avviyar Street has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value saw a decrease to Rs 1,675 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The value saw a dramatic increase of 733% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 817%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Avviyar Street.

• Avvai Nagar: Rs 3,850 per sq.ft (2024)
• Avia Enclave(Balakrishnan Street): Rs 2,750 per sq.ft (2024)
• Baharthiyar Street: Rs 1,960 per sq.ft (2024)
• Arunodhayam Nagar: Rs 2,750 per sq.ft (2024)
• Arul Murugan Nandavanam Nagar: Rs 2,750 per sq.ft (2024)
• Balakrishnan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Avviyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avviyar Street?

The Sub Registrar Office covering Avviyar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller comply with the local regulations. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Avviyar Street?

The current guideline value of Avviyar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

What are the stamp duty and registration fees for property in Avviyar Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500 based on the current guideline value.

Which Sub Registrar Office covers Avviyar Street?

The Pallavaram Sub Registrar Office covers Avviyar Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Avviyar Street?

Avviyar Street is classified as Residential Class I Type - I, indicating its designation for residential use within the area.