Guideline Value for Avvai Nagar

Avvai Nagar guideline value

The current guideline value of Avvai Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Avvai Nagar has changed

Over the years, the guideline value of Avvai Nagar has seen several revisions. The earliest recorded value in the register is from 2007, set at Rs 450 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a 500% rise. However, the value then decreased to Rs 1,809 per sq.ft in 2017, which represented a decline of 33%. From 2017 to 2023, the value rose sharply by 49% to Rs 2,700 per sq.ft. The most recent revision in 2024 has seen it increase further to Rs 2,900 per sq.ft, a rise of 7% 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 544%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Avvai Nagar's value above this median.

• Avvai Street: Rs 2,900 per sq.ft (2024)
• Avvai 4th Street: Rs 2,900 per sq.ft (2024)
• 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)
• Ayyappan Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,900 per sq.ft, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000. Together, the total cost for these fees would be 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 Nagar?

The Sub Registrar Office that covers Avvai Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in 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

When buying or selling property in Selaiyur, the guideline value plays a crucial role in determining the registration fees and stamp duty. The value is assessed by the government and is used as a basis for calculating these fees during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value as it can significantly impact the overall cost of the transaction. Ensuring that you are informed about the latest revisions can help in planning your financial commitments accurately.

Frequently asked questions

What is the current guideline value of Avvai Nagar?

The current guideline value of Avvai Nagar 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 seen several revisions, increasing from Rs 450 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, representing a total increase of 544% over the years.

What is the land classification of Avvai Nagar?

Avvai Nagar is classified as Residential Special Type - I, indicating its designated use 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 properties 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 29,00,000, the stamp duty would be Rs 2,03,000 at 7%.