Guideline Value for Avvaiyar Street

Avvaiyar Street guideline value

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

How the guideline value of Avvaiyar Street has changed

The guideline value for Avvaiyar Street has undergone several revisions over the years. In 2007, the guideline value was Rs 750 per sq.ft. It increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, which represented a 33% decline. The value rose again to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 340%, showcasing the fluctuations in property valuation over the years.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur 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 3,900 per sq.ft. The guideline value of Avvaiyar Street is below this median.

• Arumugam Street: Rs 3,300 per sq.ft (2024)
• Balusamy Naidu Street: Rs 4,400 per sq.ft (2024)
• Bharathiyar 1st Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar 2nd Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar First Street: Rs 3,300 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 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 or 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 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavanthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are transparent and fair.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 340%.

What is the land classification of Avvaiyar Street?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, while the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Avvaiyar Street located?

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