Guideline Value for Avaiyar Street

Avaiyar Street guideline value

The current guideline value of Avaiyar Street in Thiruneermalai village is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class I Type - I.

How the guideline value of Avaiyar Street has changed

Since the 2003 revision, the guideline value for Avaiyar Street has seen significant increases. In 2003, the value was Rs 294 per sq.ft, which rose to Rs 350 per sq.ft in 2007, marking a 19% increase. The value then surged dramatically to Rs 1,474 per sq.ft in 2017, a rise of 321%. Following this, the 2023 revision set the value at Rs 2,200 per sq.ft, reflecting a 49% increase from the previous figure. The most recent revision in 2024 has set the value at Rs 2,420 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the years 2012 and 2002 in the register for Avaiyar Street. Overall, from 2003 to 2024, the guideline value has increased by 723%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which is equal to the current guideline value of Avaiyar Street.

• Bajanai Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,200 per sq.ft (2024)
• Bakathavachalam Street: Rs 2,200 per sq.ft (2024)
• Ariangar Anna Street: Rs 2,200 per sq.ft (2024)
• Anna Street Extn., / Durga Nagar: Rs 2,420 per sq.ft (2024)
• Anna Street / Durga Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Avaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost to Rs 2,17,800. 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 detailed calculations.

Which Sub Registrar Office covers Avaiyar Street?

The Sub Registrar Office that covers Avaiyar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thiruneermalai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value during negotiations and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Avaiyar Street?

The current guideline value of Avaiyar Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 294 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 723% over this period.

What is the land classification for Avaiyar Street?

Avaiyar Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Avaiyar Street?

The registration office for Avaiyar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Avaiyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 24,20,000 would incur a stamp duty of Rs 1,69,400 at 7%.