Guideline Value for Avadi Main Road

Avadi Main Road guideline value

The current guideline value of Avadi Main Road in Veeraragavapuram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Kunrathur Sub Registrar Office and is classified as Commercial Class I Type - I.

How the guideline value of Avadi Main Road has changed

The guideline value for Avadi Main Road has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, by 2017, the value dropped to Rs 804 per sq.ft, representing a decrease of 33%. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 164%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Veeraragavapuram

In Veeraragavapuram, there are 10 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 2,790 per sq.ft. The median value for these streets is Rs 990 per sq.ft, indicating that Avadi Main Road's 2024 figure of Rs 1,320 per sq.ft is above this median.

• Bharathi Nagar: Rs 990 per sq.ft (2024)
• Anaikattu I st Street: Rs 770 per sq.ft (2024)
• Anaikattu II nd Street: Rs 770 per sq.ft (2024)
• Anaikattu III rd Street: Rs 770 per sq.ft (2024)
• Park street: Rs 770 per sq.ft (2024)
• Pilliyar Koil Street: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Avadi Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. 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 Avadi Main Road?

The Avadi Main Road falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Veeraragavapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property for these purposes.

When engaging in property transactions, it is essential to verify the current guideline value, as it can impact the overall costs involved in the registration process. This ensures that all parties are informed and prepared for the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Avadi Main Road?

The current guideline value of Avadi Main Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 164% since 2007.

What is the median guideline value for streets in Veeraragavapuram?

The median guideline value for streets in Veeraragavapuram is Rs 990 per sq.ft, with Avadi Main Road's value being above this median at Rs 1,320 per sq.ft.

What are the stamp duty and registration fees for purchasing property on Avadi Main Road?

The stamp duty for a property valued at Rs 13,20,000 would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.