Guideline Value for Avvai 4th Street

Avvai 4th Street guideline value

The current guideline value of Avvai 4th 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 4th Street has changed

Looking at the historical revisions, the guideline value for Avvai 4th Street was Rs 1,809 per sq.ft in 2017, which increased to Rs 2,700 per sq.ft in 2023. The latest revision in 2024 raised the value further to Rs 2,900 per sq.ft, marking a 7% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 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 of Avvai 4th Street is above this median, reflecting its specific characteristics and demand.

• Avvai 3rd Street: Rs 2,900 per sq.ft (2024)
• Avvai 2nd 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 4th 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 to Rs 2,61,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avvai 4th Street?

The Sub Registrar Office that covers Avvai 4th 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, within 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 property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives appropriate revenue based on the property's assessed value.

When selling property, the guideline value is also a reference point for both buyers and sellers. It helps in establishing a fair price during negotiations, as it reflects the official valuation set by the government for the area.

Frequently asked questions

What is the current guideline value of Avvai 4th Street?

The current guideline value of Avvai 4th 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 2,700 per sq.ft in 2023, and then to Rs 2,900 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007.

What is the land classification for Avvai 4th Street?

Avvai 4th Street is classified as Residential Special Type - I, indicating its suitability 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 stamp duty calculated for property in Avvai 4th Street?

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