Guideline Value for Avvai Street

Avvai Street guideline value

The current guideline value of Avvai Street in Selaiyur village, under the Selaiyur SRO, is Rs 2,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Avvai Street has changed

The guideline value for Avvai Street has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, reflecting a 33% decline. Following this, the value surged to Rs 2,700 per sq.ft in 2023, and currently stands at Rs 2,900 per sq.ft as per the 2024 revision, indicating a 7% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Avvai 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 a 2024 guideline value 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, which means Avvai Street's 2024 figure is above this median.

• Avvai Nagar: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, while the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the 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 Street?

The Sub Registrar Office that covers Avvai Street 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 details.

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

When buying or selling property in Selaiyur, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the transaction value, ensuring that the property is registered at a value that reflects the prevailing market conditions.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process. The guideline value is updated periodically, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street 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 changed from Rs 450 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, showing an overall increase of 544% over the years.

What are the stamp duty and registration fees for property in Avvai Street?

For a plot of 1,000 sq.ft at the current rate, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which Sub Registrar Office is responsible for Avvai Street?

The Selaiyur Sub Registrar Office is responsible for Avvai Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification of Avvai Street?

Avvai Street is classified as Residential Special Type - I, which is important for understanding the zoning and usage regulations for properties in this area.