Guideline Value for Avvaipuram

Avvaipuram guideline value

The current guideline value of Avvaipuram, located in Egmore village under the Periamet SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - II land classification.

How the guideline value of Avvaipuram has changed

The guideline value for Avvaipuram has seen several revisions over the years. In 2002, the value was Rs 469 per sq.ft, which increased to Rs 517 per sq.ft in 2003, marking a 10% rise. The value further increased to Rs 1,000 per sq.ft in 2007, reflecting a significant 93% change. However, between 2007 and 2012, the value decreased to Rs 3,100 per sq.ft, a drop of 33%.

In 2017, the value rose again to Rs 2,077 per sq.ft, which was a 49% increase from the previous revision. The most recent revision in 2023 set the value at Rs 3,100 per sq.ft, and the current value of Rs 3,400 per sq.ft in 2024 represents a 10% increase from that figure. Overall, from 2002 to 2024, the guideline value has increased by 625%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Avvaipuram's value below this median.

• Audiappa Gramani Street: Rs 7,100 per sq.ft (2024)
• Ayya Mudali street: Rs 7,100 per sq.ft (2024)
• Ayya Pillai 1st street: Rs 7,100 per sq.ft (2024)
• Ayya Pillai 2nd street: Rs 7,100 per sq.ft (2024)
• Ayya Sami Pillai Lane: Rs 7,100 per sq.ft (2024)
• Ayya sami Pillai street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total cost to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avvaipuram?

The Sub Registrar Office that covers Avvaipuram is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees. This ensures that all transactions are recorded at a fair value as per the government regulations.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This helps in maintaining transparency in property transactions and ensures that the government receives its due revenue from property sales.

Frequently asked questions

What is the current guideline value of Avvaipuram?

The current guideline value of Avvaipuram is Rs 3,400 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 469 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 625% over the years.

What is the registration fee for property in Avvaipuram?

The registration fee for property in Avvaipuram is calculated at 2% of the guideline value. For a property valued at Rs 34,00,000, the registration fee would be Rs 68,000.

Where is the Sub Registrar Office for Avvaipuram located?

The Sub Registrar Office for Avvaipuram is located at 1103, Poonamallee High Road, Chennai-600 003, under the Periamet registration zone.

How is stamp duty calculated for properties in Avvaipuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 34,00,000 would incur a stamp duty of Rs 2,38,000.