Guideline Value for Avvai 2nd Street

Avvai 2nd Street guideline value

The current guideline value of Avvai 2nd Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Avvai 2nd Street has changed

The guideline value for Avvai 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,900 per sq.ft, an increase of 7% from the 2023 figure of Rs 2,700 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,809 per sq.ft, reflecting a significant increase of 49% by 2023. The 2012 revision also recorded a value of Rs 2,700 per sq.ft, which was a decrease of 33% from the 2017 figure.

Additionally, there are no figures available for the revisions in 2002, 2003, and 2007 for Avvai 2nd Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Avvai 2nd Street is above this median.

• Avvai 1st Street: Rs 2,900 per sq.ft (2024)
• Avvai 3rd Street: Rs 2,900 per sq.ft (2024)
• Avvai 4th Street: Rs 2,900 per sq.ft (2024)
• Avvai Nagar: Rs 2,900 per sq.ft (2024)
• Avvai Street: Rs 2,900 per sq.ft (2024)
• Ayyappan Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total cost to Rs 2,61,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvai 2nd Street?

The Sub Registrar Office that covers Avvai 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Avvai 2nd Street?

The current guideline value of Avvai 2nd Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,809 per sq.ft in 2017 to Rs 2,900 per sq.ft in 2024, with several revisions in between, including Rs 2,700 per sq.ft in 2023 and 2012.

What is the land classification for Avvai 2nd Street?

Avvai 2nd Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Avvai 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 at a rate of 7%.