Guideline Value for Avvaiyar Street

Avvaiyar Street guideline value

The current guideline value of Avvaiyar Street in Hastinapuram village, under the Pallavaram SRO, is Rs 2,380 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Avvaiyar Street has changed

Over the years, the guideline value of Avvaiyar Street has seen significant changes. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased dramatically to Rs 2,200 per sq.ft in 2012, marking a rise of 450%. However, it then decreased to Rs 1,474 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 2,200 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,380 per sq.ft, an increase of 8% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for Avvaiyar Street. Overall, from 2007 to 2024, the guideline value has increased by 495%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Avvaiyar Street's 2024 figure below this median.

• A.V.N. Nagar: Rs 1,650 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 2,420 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Balaji Nagar: Rs 2,970 per sq.ft (2024)
• Balaji Nagar 1,2,3,4: Rs 2,970 per sq.ft (2024)
• Bangalamalai Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value would be Rs 23,80,000. The stamp duty at 7% would amount to Rs 1,66,600, and the registration fee at 2% would be Rs 47,600, bringing the total fees together to Rs 2,14,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avvaiyar Street?

The Sub Registrar Office that covers Avvaiyar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Hastinapuram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation rather than fluctuating market prices.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. This value is regularly updated, reflecting changes in the real estate market, and is crucial for accurate financial planning during property dealings.

Frequently asked questions

What is the current guideline value of Avvaiyar Street?

The current guideline value of Avvaiyar Street is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 400 per sq.ft in 2007 to Rs 2,380 per sq.ft in 2024, which is an overall increase of 495%.

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

For a property valued at Rs 23,80,000, the stamp duty would be Rs 1,66,600 and the registration fee would be Rs 47,600, totaling Rs 2,14,200.

Which Sub Registrar Office covers Avvaiyar Street?

The Pallavaram Sub Registrar Office covers Avvaiyar Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Avvaiyar Street?

Avvaiyar Street is classified as Residential Class II Type - I, indicating its designated use for residential purposes.