Guideline Value for Avadi Road

Avadi Road guideline value

The current guideline value of Avadi Road in Chennerkuppam village, under the Kunrathur SRO, is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Avadi Road has changed

The guideline value for Avadi Road has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 500 per sq.ft. This figure saw a significant increase to Rs 4,200 per sq.ft in 2012, marking a remarkable rise of 740%. However, the value dropped to Rs 2,814 per sq.ft in 2017, a decrease of 33%. In 2023, the guideline value increased again to Rs 4,200 per sq.ft, followed by the current value of Rs 4,620 per sq.ft from the 2024 revision, which is an increase of 10% from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 824%. The changes reflect the fluctuations in the property value over the years, with a notable increase from Rs 2,814 per sq.ft in 2017 to the current rate.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing Avadi Road's 2024 figure above this median.

• Audco Nagar & phase1& phase 2: Rs 1,540 per sq.ft (2024)
• Ayaan City: Rs 1,430 per sq.ft (2024)
• Ayaan City Phase-2: Rs 1,540 per sq.ft (2024)
• Astalakshmi Avenue phase 1, 2, 3: Rs 1,540 per sq.ft (2024)
• Ashtalakshmi Avenue Phase IV: Rs 4,105 per sq.ft (2024)
• Bajanai koil Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Avadi Road

For a 1,000 sq.ft plot at the current rate of Rs 4,620 per sq.ft, the guideline value amounts to Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, totaling Rs 4,15,800. 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 further assistance.

Which Sub Registrar Office covers Avadi Road?

The Sub Registrar Office that covers Avadi Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Chennerkuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is assessed to ensure that the transaction reflects a fair valuation. This value helps in calculating the applicable taxes and fees, ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Avadi Road?

The current guideline value of Avadi Road is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 824% over the years.

What is the land classification for Avadi Road?

Avadi Road is classified as Commercial Class I Type - I, indicating its suitability for commercial developments.

Where is the Kunrathur Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Avadi Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 46,20,000 incurs a stamp duty of Rs 3,23,400 at a rate of 7%.