Guideline Value for Avvai Street Extension

Avvai Street Extension guideline value

The current guideline value of Avvai Street Extension in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Avvai Street Extension has changed

The guideline value for Avvai Street Extension has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged until 2017, when it decreased to Rs 670 per sq.ft. However, in 2023, the guideline value rose to Rs 1,000 per sq.ft again, and most recently, it increased to Rs 1,100 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

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 guideline value for these streets is Rs 1,650 per sq.ft, placing Avvai Street Extension's value below this median.

• Avvai St cross st: Rs 1,100 per sq.ft (2024)
• Avvai St: Rs 2,200 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 Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvai Street Extension?

The Avvai Street Extension falls under 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 an essential factor during property transactions in Peerklankaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to calculate the applicable stamp duty and registration fees when executing a sale deed.

Additionally, the guideline value helps ensure transparency in property transactions, providing a reference point for both parties involved in the sale. It is crucial for buyers to verify the guideline value before proceeding with any property purchase to avoid discrepancies in registration costs.

Frequently asked questions

What is the current guideline value of Avvai Street Extension?

The current guideline value of Avvai Street Extension is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Avvai Street Extension?

Avvai Street Extension is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Avvai Street Extension?

The Sub Registrar Office covering Avvai Street Extension is the Tambaram Joint 1 SRO, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Avvai Street Extension?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.