Guideline Value for Avvaiyar Street (M.G.R. Nagar)

Avvaiyar Street (M.G.R. Nagar) guideline value

The current guideline value of Avvaiyar Street (M.G.R. Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Avvaiyar Street (M.G.R. Nagar) has changed

The guideline value for Avvaiyar Street (M.G.R. Nagar) has seen several revisions over the years. In the 2007 revision, the value was Rs 800 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, the value decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a drop of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 313%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Avvaiyar Street (M.G.R. Nagar) at Rs 3,300 per sq.ft is below this median.

• Avvaiyar Street J.Khanpet: Rs 4,100 per sq.ft (2024)
• Avvai Street (Ethiraj Nagar): Rs 4,900 per sq.ft (2024)
• Avudayamman Street: Rs 3,300 per sq.ft (2024)
• Ayyappan Sannathi Street Block 37: Rs 4,900 per sq.ft (2024)
• Ayyappan Street Block 37: Rs 4,900 per sq.ft (2024)
• Ayyavupuram Kambar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyar Street (M.G.R. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvaiyar Street (M.G.R. Nagar)?

The Sub Registrar Office that covers Avvaiyar Street (M.G.R. Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodambakkam. It serves as a benchmark for determining 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 helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and for sellers to set realistic expectations regarding the selling price of their property.

Frequently asked questions

What is the current guideline value of Avvaiyar Street (M.G.R. Nagar)?

The current guideline value of Avvaiyar Street (M.G.R. Nagar) is Rs 3,300 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the land classification for Avvaiyar Street (M.G.R. Nagar)?

Avvaiyar Street (M.G.R. Nagar) is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Avvaiyar Street (M.G.R. Nagar)?

The Sub Registrar Office for Avvaiyar Street (M.G.R. Nagar) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the stamp duty rate for properties in Avvaiyar Street (M.G.R. Nagar)?

The stamp duty rate for properties in Avvaiyar Street (M.G.R. Nagar) is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.