Guideline Value for Avvai Nagar

Avvai Nagar guideline value

The current guideline value of Avvai Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - I.

How the guideline value of Avvai Nagar has changed

The guideline value for Avvai Nagar has seen several revisions over the years. In 2012, the value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. There are no figures available for this street in the years 2002, 2003, and 2007.

Between the revisions, the changes are notable. The jump from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024 represents a 10% increase. The rise from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023 marks a 49% increase. However, the value saw a decrease of 33% from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nanmangalam

In Nanmangalam, there are 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Avvai Nagar is above this median.

• Avviyar Street: Rs 2,750 per sq.ft (2024)
• Avia Enclave(Balakrishnan Street): Rs 2,750 per sq.ft (2024)
• Baharthiyar Street: Rs 1,960 per sq.ft (2024)
• Arunodhayam Nagar: Rs 2,750 per sq.ft (2024)
• Arul Murugan Nandavanam Nagar: Rs 2,750 per sq.ft (2024)
• Balakrishnan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Avvai Nagar?

The Sub Registrar Office that covers Avvai Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Nanmangalam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property in Avvai Nagar, both the buyer and seller need to be aware of the guideline value as it directly impacts the financial aspects of the transaction. It is essential to consult the latest guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Avvai Nagar?

The current guideline value of Avvai Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification of Avvai Nagar?

Avvai Nagar is classified as Mixed Type - I, which indicates the type of development permitted in the area.

Where can I find the Sub Registrar Office for Avvai Nagar?

The Sub Registrar Office for Avvai Nagar is located at Pallavaram Sub Registrar Office, 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for property in Avvai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.