Guideline Value for Avvai 3rd Street

Avvai 3rd Street guideline value

The current guideline value of Avvai 3rd Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Avvai 3rd Street has changed

The guideline value for Avvai 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was later reduced to Rs 1,809 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value rebounded significantly to Rs 2,700 per sq.ft in the 2023 revision, and then increased to Rs 2,900 per sq.ft in the 2024 revision, reflecting a rise of 7%.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a modest increase of 7%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the 2024 figure for Avvai 3rd Street above the median.

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

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvai 3rd Street?

The Sub Registrar Office that covers Avvai 3rd 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Selaiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is documented correctly and in compliance with local regulations.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions, as both the buyer and seller must adhere to the established guideline values set by the authorities.

Frequently asked questions

What is the current guideline value of Avvai 3rd Street?

The current guideline value of Avvai 3rd 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 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase. It was Rs 1,809 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Avvai 3rd Street?

The land classification for Avvai 3rd Street is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Avvai 3rd Street?

The Sub Registrar Office for Avvai 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Selaiyur?

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