Guideline Value for Avadi road

Avadi road guideline value

The current guideline value of Avadi road in Poonthamallee village is Rs 2,740 per sq.ft, effective from 1 July 2024. This area falls under the Poonamallee Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Avadi road has changed

The guideline value for Avadi road has seen significant changes over the years. In the 2007 revision, the value was Rs 400 per sq.ft. This increased dramatically to Rs 2,500 per sq.ft in the 2012 revision, marking a substantial rise of 525%. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, representing a decline of 33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent 2024 revision set it at Rs 2,740 per sq.ft, a 10% increase from the previous year. 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 585%. The changes reflect the fluctuations in the property market over the years, with the most recent increase indicating a positive shift in the guideline value.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft as of 2024. The median value for the area is Rs 2,200 per sq.ft, placing Avadi road's 2024 value above this median.

• Astalakshmi nagar: Rs 2,200 per sq.ft (2024)
• A.S.R Rasi Garden: Rs 2,210 per sq.ft (2024)
• Ashtalakshmi nagar: Rs 2,200 per sq.ft (2024)
• Arunthathipalayam: Rs 2,200 per sq.ft (2024)
• Bajnai koil street: Rs 2,200 per sq.ft (2024)
• Arivolli Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Avadi road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value would be Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, bringing the total cost for these fees to Rs 2,46,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avadi road?

The Avadi road falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. The registration office uses this value to calculate the applicable fees, which are essential for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Avadi road?

The current guideline value of Avadi road is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 400 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, marking an overall increase of 585% over this period.

What is the median guideline value in Poonthamallee?

The median guideline value in Poonthamallee is Rs 2,200 per sq.ft as of 2024, with Avadi road's value being above this median.

What are the stamp duty and registration fees for property in Avadi road?

For a property valued at Rs 27,40,000, the stamp duty would be Rs 1,91,800 and the registration fee would be Rs 54,800, totaling Rs 2,46,600 for these fees.

Which office handles registrations for Avadi road?

The Poonamallee Sub Registrar Office handles registrations for Avadi road, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.