Guideline Value for Avvai Street

Avvai Street guideline value

The current guideline value of Avvai Street in Perungalathur village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Padappai Sub Registrar Office and is classified as Residential Class III Type - I.

How the guideline value of Avvai Street has changed

Over the years, the guideline value of Avvai Street has seen significant changes. In the 2007 revision, the value was Rs 250 per sq.ft, which increased dramatically to Rs 1,800 per sq.ft in 2012, marking a rise of 620%. However, from 2012 to 2017, there was a decrease to Rs 1,206 per sq.ft, a drop of 33%. The value then rose again to Rs 1,800 per sq.ft in 2023, and subsequently increased to the current value of Rs 1,980 per sq.ft in 2024, reflecting a growth of 10% between these two revisions.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Avvai Street. The overall increase from the 2007 revision to the 2024 revision stands at 692%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Avvai Street's 2024 figure below this median.

• Azagiri Nagar: Rs 2,640 per sq.ft (2024)
• Ashtalaxmi Nagar: Rs 1,980 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,650 per sq.ft (2024)
• Arunagirinathar Street: Rs 2,970 per sq.ft (2024)
• Arunachala Nagar: Rs 1,650 per sq.ft (2024)
• Bakthavachalam Street: Rs 2,310 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is essential 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the property's worth according to the government standards. Buyers and sellers must be aware of this value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Avvai Street?

The current guideline value of Avvai Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 692% over the years.

What is the land classification of Avvai Street?

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

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for Avvai Street located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.