Guideline Value for Avvai Nagar 2nd Street, G.K.M.COLONY,

Avvai Nagar 2nd Street, G.K.M.COLONY, guideline value

The current guideline value of Avvai Nagar 2nd Street, G.K.M.COLONY, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class II Type - I.

How the guideline value of Avvai Nagar 2nd Street, G.K.M.COLONY, has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure remained the same in the 2012 revision. However, in 2017, it decreased to Rs 2,680 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 4,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision, which represents a 10% rise from 2023.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 figure to the 2024 figure, there has been a total increase of 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Avvai Nagar 2nd Street, G.K.M.COLONY, below this median.

• Avvai Nagar, Chennai 82: Rs 4,400 per sq.ft (2024)
• Ayanavaram Salai: Rs 5,500 per sq.ft (2024)
• Azad Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Babu Raja Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Arumuga naicker Street: Rs 4,400 per sq.ft (2024)
• Arulappa Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Nagar 2nd Street, G.K.M.COLONY,

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 more details.

Which Sub Registrar Office covers Avvai Nagar 2nd Street, G.K.M.COLONY,?

The Avvai Nagar 2nd Street, G.K.M.COLONY, falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit this link.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures transparency and compliance with legal requirements during the property transaction process.

Frequently asked questions

What is the current guideline value of Avvai Nagar 2nd Street, G.K.M.COLONY?

The current guideline value of Avvai Nagar 2nd Street, G.K.M.COLONY, is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the classification of Avvai Nagar 2nd Street, G.K.M.COLONY?

This street is classified as Residential Class II Type - I, indicating its designation for residential purposes within the Ayanavaram area.

What are the stamp duty and registration fees for a property in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would be Rs 3,96,000.

Where is the Sub Registrar Office for Avvai Nagar 2nd Street, G.K.M.COLONY?

The Sub Registrar Office covering Avvai Nagar 2nd Street, G.K.M.COLONY, is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.