Guideline Value for Avvai St

Avvai St guideline value

The current guideline value of Avvai St, located in Peerklankaranai village under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - I.

How the guideline value of Avvai St has changed

The guideline value for Avvai St has undergone several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged until 2017 when it dropped to Rs 1,340 per sq.ft, representing a decrease of 33%. The value then saw a significant increase in 2023, rising to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 revision saw a notable increase of 49% from the 2017 figure. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing Avvai St's 2024 figure above that median.

• Avvai St cross st: Rs 1,100 per sq.ft (2024)
• Avvai Street Extension: Rs 1,100 per sq.ft (2024)
• A.V. Gardens: Rs 2,220 per sq.ft (2024)
• Baaventhar street: Rs 2,200 per sq.ft (2024)
• Bagavathi Street: Rs 1,320 per sq.ft (2024)
• A.S.Rajan Nagar Extn: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai St

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost together to Rs 1,98,000. 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 more details.

Which Sub Registrar Office covers Avvai St?

The Sub Registrar Office that covers Avvai St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when a property is sold or purchased.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for tax purposes. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Avvai St?

The current guideline value of Avvai St is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Avvai St?

Avvai St is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties on Avvai St?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

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

The Sub Registrar Office for Avvai St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.