Guideline Value for AWWAI STREET

Awwai Street guideline value

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

How the guideline value of Awwai Street has changed

Over the years, the guideline value for Awwai Street has undergone several revisions. The earliest recorded figure is from 2007, where the value was Rs 125 per sq.ft. In 2012, it increased significantly to Rs 1,000 per sq.ft, marking a 700% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 670 per sq.ft. The subsequent revision in 2023 maintained the value at Rs 1,000 per sq.ft, and the latest revision in 2024 has also kept it at Rs 1,000 per sq.ft, resulting in no change from the previous year.

It is important to note that there are no recorded figures for Awwai Street in the revisions for the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, 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, with a median value of Rs 1,000 per sq.ft. Awwai Street's 2024 figure aligns with this median.

• Awaiyar 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 Awwai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty is calculated at 7%, which totals Rs 70,000, and the registration fee is charged at 2%, amounting to Rs 20,000. Therefore, the total cost for stamp duty and registration fees together is Rs 90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Awwai Street?

Awwai Street is covered by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial 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 that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used for calculating the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Awwai Street?

The current guideline value of Awwai 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 changed from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017. It remained at Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification of Awwai Street?

Awwai Street is classified as Residential Class I Type - I under the Manavalanagar SRO.

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

The Sub Registrar Office covering Awwai Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

How is stamp duty calculated for properties in Awwai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.