Guideline Value for Avvai Street

Avvai Street guideline value

The current guideline value of Avvai Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Avvai Street has changed

Avvai Street has seen several revisions in its guideline value over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 151 per sq.ft. This increased to Rs 169 per sq.ft in 2003, marking a change of +12%. The value then surged significantly to Rs 1,000 per sq.ft in 2007, reflecting a remarkable increase of +492%. Following this, the value rose to Rs 2,000 per sq.ft in 2012, which was a +100% change from the previous figure. However, the guideline value then decreased to Rs 1,340 per sq.ft in 2017, showing a decline of -33%. The most recent revisions showed an increase to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,200 per sq.ft in 2024, a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1,357%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value among these streets is Rs 2,800 per sq.ft, which means Avvai Street's current guideline value is below that median.

• Azhvar Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar Main: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value for stamp duty and registration fees during the transaction process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street 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 151 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1,357% over the years.

What is the land classification for Avvai Street?

Avvai Street is classified as Residential Class II Type - II, indicating its use for residential purposes.

Where can I find the registration office for Avvai Street?

The registration office for Avvai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for property in Avvai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 1,98,000.