Guideline Value for Avvaiyar Street

Avvaiyar Street guideline value

The current guideline value of Avvaiyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Avvaiyar Street has changed

The guideline value for Avvaiyar Street has seen significant changes over the years. In 2002, the value was Rs 350 per sq.ft, which increased to Rs 398 per sq.ft in 2003. Following this, the value rose to Rs 700 per sq.ft in 2007, marking a substantial increase of 76%. The value then jumped to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 329%. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, and finally to the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 843%. There are no figures available for revisions in years other than those listed.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Avvaiyar Street's 2024 value below that median.

• Ashokan Street: Rs 2,800 per sq.ft (2024)
• Bala Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Bala Vinayagar Murthy Colony: Rs 3,300 per sq.ft (2024)
• Balu Samy Naidu Street (Balu Samy Street): Rs 4,400 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Church Street: Rs 4,400 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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 or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Avvaiyar Street?

The Sub Registrar Office that covers Avvaiyar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Avvaiyar Street?

The current guideline value of Avvaiyar Street 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 350 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, with various increases and decreases over the years.

What is the median guideline value for streets in Nanganallur?

The median guideline value for streets in Nanganallur is Rs 3,900 per sq.ft, which is higher than the current value of Avvaiyar Street.

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

The stamp duty for a 1,000 sq.ft plot at the current guideline value would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.