Guideline Value for Avvai Street

Avvai Street guideline value

The current guideline value of Avvai Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Avvai Street has changed

The guideline value for Avvai Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 159 per sq.ft. It increased to Rs 300 per sq.ft in 2003, representing a significant rise of 89%. The following revisions continued this trend, with the value jumping to Rs 1,000 per sq.ft in 2007, marking an increase of 233%. In 2012, the value was Rs 2,500 per sq.ft, which was a 150% increase from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. However, it rebounded to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,800 per sq.ft in 2024, which is a rise of 12% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1661%.

Guideline values in Tharamani

In Tharamani village, there are 78 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, which is the same as the current guideline value for Avvai Street.

• Arangannal Street: Rs 2,800 per sq.ft (2024)
• Anna Street: Rs 2,800 per sq.ft (2024)
• Anbalagan Nagar Sathya Street: Rs 2,800 per sq.ft (2024)
• Anbalagan Nagar Putru Koil Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Bhavani Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Gangai Street: Rs 2,200 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avvai Street?

The Sub Registrar Office that covers Avvai Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tharamani. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair. Buyers and sellers must be aware of this value to avoid discrepancies during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, aligning the registration process with the established guideline values in the area.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1661% over this period.

What is the land classification of Avvai Street?

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

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,52,000.

Where is the Sub Registrar Office for Avvai Street located?

The Adayar Sub Registrar Office covers Avvai Street and is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.