Guideline Value for Avvai Street (Ethiraj Nagar)

Avvai Street (Ethiraj Nagar) guideline value

The current guideline value of Avvai Street (Ethiraj Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Avvai Street (Ethiraj Nagar) has changed

The guideline value for Avvai Street (Ethiraj Nagar) has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,210 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a rise of 272%. However, in the 2017 revision, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw a substantial increase to Rs 4,500 per sq.ft, followed by a further rise to Rs 4,900 per sq.ft in the 2024 revision, which is a change of 9% from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 305%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value per sq.ft for these streets is Rs 4,900, which is equal to the current figure for Avvai Street (Ethiraj Nagar).

• Avvaiyar Street J.Khanpet: Rs 4,100 per sq.ft (2024)
• Avvaiyar Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Avudayamman Street: Rs 3,300 per sq.ft (2024)
• Ayyappan Sannathi Street Block 37: Rs 4,900 per sq.ft (2024)
• Ayyappan Street Block 37: Rs 4,900 per sq.ft (2024)
• Ayyavupuram Kambar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Street (Ethiraj Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Avvai Street (Ethiraj Nagar)?

The Sub Registrar Office that covers Avvai Street (Ethiraj Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps to establish a fair basis for the transaction, ensuring that both the buyer and seller are aware of the official valuation. This value is essential for legal documentation and compliance with local regulations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Avvai Street (Ethiraj Nagar)?

The current guideline value of Avvai Street (Ethiraj Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2007 revision starting at Rs 1,210 per sq.ft, rising to Rs 4,900 per sq.ft in 2024. Notable changes include a drop to Rs 3,015 per sq.ft in 2017 and a rise to Rs 4,500 per sq.ft in 2023.

What is the land classification for Avvai Street (Ethiraj Nagar)?

The land classification for Avvai Street (Ethiraj Nagar) is Residential Class III Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers the registration for Avvai Street?

The Ashok Nagar Sub Registrar Office covers the registration for Avvai Street (Ethiraj Nagar). It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.