Guideline Value for Avvai Colony

Avvai Colony guideline value

The current guideline value of Avvai Colony, located in Kottur village under the Adayar SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Avvai Colony has changed

The guideline value of Avvai Colony has seen several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, this figure decreased to Rs 3,015 per sq.ft in 2017. The value then rose significantly to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 5,000 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 revision to 2023, there was a notable increase of 49%. The recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2007 to 2024, the guideline value has doubled, showing a total increase of 100% over this period.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. Avvai Colony's 2024 figure of Rs 5,000 per sq.ft is below this median.

• Bajanai Koil Street: Rs 6,100 per sq.ft (2024)
• Balaji Street: Rs 6,100 per sq.ft (2024)
• Angalamman Koil Street: Rs 3,300 per sq.ft (2024)
• Bharathi Avenue: Rs 5,000 per sq.ft (2024)
• Bharathi Avenue 1st Street: Rs 5,000 per sq.ft (2024)
• Bharathi Avenue 2nd Street: Rs 5,000 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 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000. Together, these fees total Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Avvai Colony?

The Sub Registrar Office that covers Avvai Colony is the Adayar Sub Registrar Office, 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 Kottur

The guideline value plays a crucial role in property transactions in Kottur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers should be aware that the guideline value is often the basis for calculating these fees and can affect the overall cost of the transaction.

When registering a property, the guideline value ensures that the transaction is recorded at a fair and standardized rate, which helps maintain transparency in the real estate market. It is essential for buyers and sellers to understand the guideline value to accurately estimate their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Avvai Colony?

The current guideline value of Avvai Colony is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, showing a total increase of 100% over this period.

What is the land classification for Avvai Colony?

The land classification for Avvai Colony is Residential Class IV Type - II.

Where can I find the Adayar Sub Registrar Office?

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

How is stamp duty calculated in Kottur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 50,00,000 would incur a stamp duty of Rs 3,50,000 at 7%.