Guideline Value for Avvai Street

Avvai Street guideline value

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

How the guideline value of Avvai Street has changed

Looking at the revisions over the years, the guideline value for Avvai Street was Rs 2,000 per sq.ft in 2023, which increased to Rs 2,200 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was recorded at Rs 1,340 per sq.ft, showing a significant increase of +49% to the 2023 figure. There are no figures available for the revisions in 2002, 2003, and 2007.

In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased by -33% to Rs 1,340 per sq.ft in 2017. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by +10%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for Avvai Street is below this median.

• Avvaiyur Street: Rs 2,200 per sq.ft (2024)
• Arinyar Anna Salai / Road: Rs 2,500 per sq.ft (2024)
• Balaji Nagar: Rs 1,900 per sq.ft (2024)
• Appar Street: Rs 2,200 per sq.ft (2024)
• A.P. Arasu Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 5th Cross Street: Rs 2,500 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. Note that 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Erukancherry. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. The registration process will take into account the guideline value or the sale price, whichever is higher, to calculate the applicable duties and fees.

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 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification for Avvai Street?

Avvai Street falls under the Residential Class IV Type - I land classification.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Avvai Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.