Guideline Value for Avvai Nagar

Avvai Nagar guideline value

The current guideline value of Avvai Nagar, located in Mugappair village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Avvai Nagar has changed

The guideline value of Avvai Nagar has undergone several revisions over the years. In 2002, the value was Rs 364 per sq.ft, which increased to Rs 400 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 800 per sq.ft in 2007, reflecting a 100% increase. By 2012, the value was Rs 3,500 per sq.ft, which was a substantial increase of 338% from the previous revision.

In 2017, the guideline value decreased to Rs 2,345 per sq.ft, a drop of 33%. However, this was followed by a notable increase to Rs 3,500 per sq.ft in 2023, and finally, the current value is Rs 3,800 per sq.ft as of the 2024 revision, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 944%.

Guideline values in Mugappair

In Mugappair village, there are 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft as of 2024. The median value for these streets is Rs 7,100 per sq.ft, placing Avvai Nagar's current guideline value below that median.

• Avvai Salai other Street: Rs 3,300 per sq.ft (2024)
• Asirvatham Nagar: Rs 5,500 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,800 per sq.ft (2024)
• Appu Flats: Rs 7,100 per sq.ft (2024)
• Anna Street: Rs 3,800 per sq.ft (2024)
• Anna Nagar West Extn: Rs 7,100 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 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvai Nagar?

The Sub Registrar Office that covers Avvai Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. Buyers should be aware that the duty is charged based on the higher amount between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Avvai Nagar?

The current guideline value of Avvai Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 364 per sq.ft in 2002 to the current Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 944% over the years.

What is the classification of land in Avvai Nagar?

Avvai Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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

The Konnur Sub Registrar Office covers Avvai Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated in Avvai Nagar?

Stamp duty in Avvai Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000.