Guideline Value for Avvai Colony

Avvai Colony guideline value

The current guideline value of Avvai Colony, located in Adayar village under the Adayar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Avvai Colony has changed

The guideline value of Avvai Colony has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value saw a significant increase to Rs 3,000 per sq.ft in 2023, followed by a further rise to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The changes from each revision reflect the fluctuations in property valuation over time, with the most notable increase occurring between 2017 and 2023, where the value rose by 49%.

Guideline values in Adayar

In Adayar village, there are 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,100 per sq.ft, placing Avvai Colony's 2024 figure below this median.

• Arunachalam Road: Rs 11,000 per sq.ft (2024)
• Arunachalam Lane: Rs 9,400 per sq.ft (2024)
• Arulalamman Pettai Street: Rs 3,300 per sq.ft (2024)
• Anna Salai Lane: Rs 10,500 per sq.ft (2024)
• Anna Salai: Rs 15,400 per sq.ft (2024)
• Balaram Road: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Colony?

The Adayar Sub Registrar Office covers Avvai Colony. The office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adayar. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that both parties comply with the legal requirements.

When a property is registered, the guideline value is considered as a benchmark for valuation. This means that the fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring a fair assessment during the registration process.

Frequently asked questions

What is the current guideline value of Avvai Colony?

The current guideline value of Avvai Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 120% over this period.

What are the registration fees for property in Avvai Colony?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Avvai Colony?

The Adayar Sub Registrar Office is responsible for Avvai Colony, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

Where can I find more information about guideline values in Adayar?

For more information about guideline values in Adayar, you can refer to the registration department's guideline value register or visit the Adayar SRO for specific inquiries.