Guideline Value for Avvaiyar Street

Avvaiyar Street guideline value

The current guideline value of Avvaiyar Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I 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 2003, the guideline value was Rs 171 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. Following this, the value rose to Rs 700 per sq.ft in 2012, before dropping to Rs 469 per sq.ft in 2017. The value then saw a substantial increase to Rs 700 per sq.ft in 2023, and finally, it is set to rise to Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. The register does not contain a figure for Avvaiyar Street for the year 2002.

Guideline values in Padiyanallur

Padiyanallur village has 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value is Rs 770 per sq.ft, which matches the current value for Avvaiyar Street.

• Athithanar Street: Rs 770 per sq.ft (2024)
• Bajanai Koil Street: Rs 660 per sq.ft (2024)
• Ashoka Street: Rs 770 per sq.ft (2024)
• Ashokar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Ashokar Cross Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Balaganesan Street: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that 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 more details.

Which Sub Registrar Office covers Avvaiyar Street?

The Sub Registrar Office that covers Avvaiyar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Padiyanallur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government standards.

When you buy or sell a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Avvaiyar Street?

The current guideline value of Avvaiyar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over this period.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, the registration fee is 2% of the same value.

Which office handles property registrations for Avvaiyar Street?

The Redhills Sub Registrar Office is responsible for property registrations for Avvaiyar Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in real estate transactions?

The guideline value is used to determine the minimum price at which properties can be registered, ensuring compliance with government regulations. It also influences the calculation of stamp duty and registration fees during property transactions.