Guideline Value for Avvaiyur Street

Avvaiyur Street guideline value

The current guideline value of Avvaiyur Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Avvaiyur Street has changed

The guideline value for Avvaiyur Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,340 per sq.ft. The subsequent revision in 2017 raised the value to Rs 2,000 per sq.ft, and the 2023 revision increased it further to Rs 2,000 per sq.ft. Finally, the current 2024 revision has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for Avvaiyur Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Avvaiyur Street's 2024 figure below this median.

• Avvai Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar: Rs 1,900 per sq.ft (2024)
• Arinyar Anna Salai / Road: Rs 2,500 per sq.ft (2024)
• Appar Street: Rs 2,200 per sq.ft (2024)
• A.P. Arasu Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 5th Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Avvaiyur Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Avvaiyur Street?

The Sub Registrar Office that covers Avvaiyur Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

When buying or selling property in Erukancherry, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for transactions and is used by the registration department to assess the value of the property being registered.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during the property registration process.

Frequently asked questions

What is the current guideline value of Avvaiyur Street?

The current guideline value of Avvaiyur Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 10% since 2012.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Avvaiyur Street?

The Madhavaram Sub Registrar Office handles property registrations for Avvaiyur Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Avvaiyur Street?

The land classification for Avvaiyur Street is Residential Class IV Type - I.