Guideline Value for AWAIYAR STREET

Awaiyar Street guideline value

The current guideline value of Awaiyar Street in Vengathur village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Residential Class I Type - I.

How the guideline value of Awaiyar Street has changed

The guideline value for Awaiyar Street has undergone several revisions over the years. In 2007, the guideline value was Rs 125 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then saw a decrease to Rs 670 per sq.ft in 2017. The subsequent revisions in 2023 and 2024 maintained the value at Rs 1,000 per sq.ft, indicating no change between these two years. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 represented a remarkable 700% rise. Overall, from 2007 to 2024, the guideline value has increased by 700%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, which aligns with the current value for Awaiyar Street.

• Awwai Street: Rs 1,000 per sq.ft (2024)
• Azhagiri Street: Rs 1,300 per sq.ft (2024)
• Baba Street: Rs 800 per sq.ft (2024)
• Arumugam Street: Rs 1,300 per sq.ft (2024)
• Anna Street: Rs 1,300 per sq.ft (2024)
• Anna Nagar Sellum Salai: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Awaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty, charged at 7%, would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000. Together, the total cost for these fees would be Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Awaiyar Street?

The Sub Registrar Office that covers Awaiyar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers must ensure that the sale price is not lower than the guideline value to avoid any discrepancies during registration.

When registering a property, the guideline value helps in calculating the total costs involved. This ensures that all parties are aware of the financial obligations tied to the property transfer, making the process transparent and straightforward.

Frequently asked questions

What is the current guideline value of Awaiyar Street?

The current guideline value of Awaiyar Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, increasing from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and finally stabilizing at Rs 1,000 per sq.ft in 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, which is also the current value for Awaiyar Street.

What are the stamp duty rates applicable in Awaiyar Street?

The stamp duty rate applicable for property transactions in Awaiyar Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Awaiyar Street?

The Manavalanagar Sub Registrar Office handles registrations for Awaiyar Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.