Guideline Value for Avvaiyar Street (Gandhi Nagar)

Avvaiyar Street (Gandhi Nagar) guideline value

The current guideline value of Avvaiyar Street (Gandhi Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Avvaiyar Street (Gandhi Nagar) has changed

The guideline value for Avvaiyar Street (Gandhi Nagar) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then saw a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Avvaiyar Street (Gandhi Nagar) is below this median.

• Ayeram kathamman Kovil Street: Rs 1,600 per sq.ft (2024)
• Ayeram Kathamman Main Road: Rs 1,600 per sq.ft (2024)
• A.V.R.Street: Rs 2,400 per sq.ft (2024)
• Azhagumuthu Yadhava Street: Rs 1,600 per sq.ft (2024)
• Baba Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Babuji Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyar Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avvaiyar Street (Gandhi Nagar)?

The Sub Registrar Office that covers Avvaiyar Street (Gandhi Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value may influence the overall costs associated with property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both parties to understand how the guideline value affects the financial aspects of their property dealings.

Frequently asked questions

What is the current guideline value of Avvaiyar Street (Gandhi Nagar)?

The current guideline value of Avvaiyar Street (Gandhi Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with a notable decrease to Rs 1,005 per sq.ft in 2017 and a subsequent increase to Rs 1,500 per sq.ft in 2023.

What is the land classification of Avvaiyar Street (Gandhi Nagar)?

Avvaiyar Street (Gandhi Nagar) is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Avvaiyar Street (Gandhi Nagar)?

The Sub Registrar Office for Avvaiyar Street (Gandhi Nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Avvaiyar Street (Gandhi Nagar)?

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 guideline value would be Rs 16,00,000, leading to a stamp duty of Rs 1,12,000.