Guideline Value for Avvaiyar Street

Avvaiyar Street guideline value

The current guideline value of Avvaiyar Street in Vengambakkam village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Avvaiyar Street has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 335 per sq.ft, marking a reduction of 33%. The value then increased significantly in the 2023 revision to Rs 500 per sq.ft, followed by a further increase to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2017 revision did not have a figure for this street in the register, and there are no figures for the years 2002, 2003, and 2007 as well.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. Avvaiyar Street's 2024 guideline value of Rs 550 per sq.ft is below this median.

• Anuram Nagar: Rs 3,300 per sq.ft (2024)
• Bbcl Auracity: Rs 1,650 per sq.ft (2024)
• Anna Main Road(Vengampakkam colony): Rs 440 per sq.ft (2024)
• Anna Main Road (Cross Street): Rs 550 per sq.ft (2024)
• Anna Main Road: Rs 1,160 per sq.ft (2024)
• Annai Sathiya Street: Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, and the registration fee is 2%, amounting to Rs 11,000. Together, the total cost for these fees is Rs 49,500. 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 Avvaiyar Street?

The Sub Registrar Office that covers Avvaiyar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction adheres to legal requirements.

When a property is sold, the guideline value helps both buyers and sellers understand the official valuation set by the government. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Avvaiyar Street?

The current guideline value of Avvaiyar Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Avvaiyar Street has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Avvaiyar Street?

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

Where can I find the Sub Registrar Office for Avvaiyar Street?

The Sub Registrar Office for Avvaiyar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the stamp duty and registration fees for properties on Avvaiyar Street?

For a property valued at Rs 5,50,000 on Avvaiyar Street, the stamp duty is Rs 38,500 and the registration fee is Rs 11,000, totaling Rs 49,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.