Guideline Value for Avvai Street

Avvai Street guideline value

The current guideline value of Avvai Street in Konnur village, under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Avvai Street has changed

The guideline value of Avvai Street has seen several revisions over the years. In 2002, the guideline value was Rs 331 per sq.ft, which increased to Rs 359 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a notable jump to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft. The changes between these revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 614% increase from 2007 to 2012, a 95% increase from 2003 to 2007, and an 8% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1562%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. Avvai Street's 2024 guideline value is above this median.

• Avvai Nagar Kambar Street: Rs 5,500 per sq.ft (2024)
• Athilakshmi Nagar: Rs 3,800 per sq.ft (2024)
• Baba Nagar 10th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 11th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 12th street and Cross Street: Rs 5,500 per sq.ft (2024)
• Baba Nagar 13th street and Cross Street: Rs 5,500 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or 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 covering Avvai Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Konnur. It determines the minimum value at which a property can be registered, ensuring that transactions reflect a standard value based on the locality.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street is Rs 5,500 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 331 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1562% over this period.

What are the other streets in Konnur with similar guideline values?

Other streets in Konnur with similar guideline values include Avvai Nagar Kambar Street, Baba Nagar 10th, 11th, 12th, and 13th streets, all at Rs 5,500 per sq.ft in 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

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

The Konnur Sub Registrar Office covers Avvai Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.